A US Debt Limit that’s Unlmited?!?
Why have a debt limit if you can keep raising it? The United States House of Representatives just approved the debt limit by $ 1.9 TRILLION. Yes you read this correctly. We are expected to borrow $1.6 trillion this year from…somewhere. Your Uncle Sam can keep ringing up the credit card charges to a total now of $14.3 trillion. Bring out the party favors, and let’s celebrate like it’s 1999. Isn’t the point of a limit to mean things should stop once you reach that point? I see all of these personal finance blogs about getting out of debt and reducing debt – why shouldn’t our government follow suit?
Tags: fiscal responsibility, reserve currency | Posted under Credit, Debt & loans, Politics | 10 Comments
