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In reply to the discussion: So Lets Say Obama Ignores the Debt Ceiling Come Thursday [View all]BellaKos
(318 posts)32. It's technical.
The budget for next year hasn't been sent to conference yet. That's what they will be negotiating in the coming weeks. The CR would simply extend the spending approved within last year's budget, which includes the infamous sequester. Spending by the Treasury, however, continues on matters considered essential and/or mandatory until the debt accumulates past the point of the previously authorized "Debt Ceiling."
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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