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In reply to the discussion: So Lets Say Obama Ignores the Debt Ceiling Come Thursday [View all]RC
(25,592 posts)12. Denmark is the only other Democracy that has a debt ceiling.
http://www.democraticunderground.com/?com=view_post&forum=1002&pid=3852034
There is a weakness in the U.S. budgetary framework because Congress can approve spending without approving the necessary borrowing to fund that spending. And also that the United States acts the opposite of most countries in that it uses the debt limit to shed light on runaway spending rather than using spending bills to address the growing debt.
In other words we use the debt limit as a weapon against the opposition, as a heavy club, instead of a tool to actually control spending. The US citizens and the world be damned.
There is a weakness in the U.S. budgetary framework because Congress can approve spending without approving the necessary borrowing to fund that spending. And also that the United States acts the opposite of most countries in that it uses the debt limit to shed light on runaway spending rather than using spending bills to address the growing debt.
In other words we use the debt limit as a weapon against the opposition, as a heavy club, instead of a tool to actually control spending. The US citizens and the world be damned.
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I see your point. However, in the long run it may strengthen our bonds and credit rating, if
pampango
Oct 2013
#13
I'd rather them eliminate the debt ceiling altogether after a sweeping 2014 election.
Gore1FL
Oct 2013
#19
Only congress can encumber new debt and that hasn't happened since we have neither a budget or CR
Nuclear Unicorn
Oct 2013
#11
I still think raising the debt limit should not be decided by the people who spent the money, it
B Calm
Oct 2013
#7
I believe when that law was passed this sort of situation was never envisioned.
dballance
Oct 2013
#10
Because Congress hasn't approved the spending and Congress hasn't approved the debt limit increase
Yo_Mama
Oct 2013
#18
The long game dictates that Obama hold firm, honor debts and let impeachment drive the midterms.
mattclearing
Oct 2013
#25
Obama won't commit an impeachable offense. He will go through the Supreme Court
berni_mccoy
Oct 2013
#30