Thread: Economics The Debt Ceiling Approacheth
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Old 01-06-2013, 10:08 AM   #29
donkhater donkhater is offline
Brilliant!!
 
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Quote:
Originally Posted by Direckshun View Post
Nope, you are absolutely right. It is an arbitrary, unnecessary device.

For the vast majority of its history, it was raised without debate. Now it's used to hold the economy hostage so one side can demand something in return for NOT crashing the economy.

I've gone rounds with patteeu on this, and his response was essentially to argue that the debt ceiling "reminds us of our insane spending."

As if we need an economy-threatening useless tool to remind us of that.
Correction--it should be an unnecessary devcie. But since our leaders can't do math, I appreciate that it is there.
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