Sunday, December 2, 2012

Debt ceiling, again.

I've posted recently about the debt ceiling--this week Greta Van Susteren interviewed Sarah Palin regarding the fiscal cliff and the debt ceiling.  Both reacted to Timothy Geithner's request that the task of reviewing and raising the debt ceiling be given to the president.  Palin and Van Susteren agreed that that would be tantamount to giving president Obama a credit card with no limit.  Now Boehner and Fox News are showing their indignation over Giethner's suggestion.  "Congress is never going to give up this power," the House Speaker told Fox News Sunday.  Boehner doesn't understand the debt ceiling any more than Van Susteren or Palin.  First, it is not a power, it's a responsibility--the US gains nothing by raising the debt ceiling (except that we guard our credit rating); we do not get more money out of the situation.  Second, congress already shirked this responsibility (which resulted in a downgrade of the credit rating of the US).  

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