Good morning, THIS IS A GAME WITH CATASTROPHIC CONSEQUENCES The debt ceiling is an idiotic concept that performs no productive purpose. It should be abandoned. Just to review for those who aren’t paying close attention, the debate is not about government spending or balancing the budget. The spending already has been authorized by Congress. Congress already approved expenditures after debating the merits of those appropriations (as broken as that process currently may be). The obligations already have been incurred. I doubt many legislators thought when the vote was held, “this is only round one.”
#662 Musings Beyond the Bunker (Wednesday May 17)
#662 Musings Beyond the Bunker (Wednesday May…
#662 Musings Beyond the Bunker (Wednesday May 17)
Good morning, THIS IS A GAME WITH CATASTROPHIC CONSEQUENCES The debt ceiling is an idiotic concept that performs no productive purpose. It should be abandoned. Just to review for those who aren’t paying close attention, the debate is not about government spending or balancing the budget. The spending already has been authorized by Congress. Congress already approved expenditures after debating the merits of those appropriations (as broken as that process currently may be). The obligations already have been incurred. I doubt many legislators thought when the vote was held, “this is only round one.”