Originally posted by EladarThe debt ceiling law is already above itself, since it does not provide any provision stopping Congress from passing spending bills that would cause debt above the set limit. It's like saying: "you can spend as much as you want, but you can only actually pay back a certain amount." It makes no sense.
http://cnsnews.com/news/article/treasury-ran-98-billion-deficit-july-debt-stayed-exactly-16699396000000
These guys are above the law and nobody cares.
Originally posted by KazetNagorraThat doesn't matter. The only thing that matters is that they are cooking the books and nothing will be done about it.
The debt ceiling law is already above itself, since it does not provide any provision stopping Congress from passing spending bills that would cause debt above the set limit. It's like saying: "you can spend as much as you want, but you can only actually pay back a certain amount." It makes no sense.
Originally posted by KazetNagorraThis works only because of a compliant central bank which buys the debt and sells it as Treasury bonds, at minimal interest.
The debt ceiling law is already above itself, since it does not provide any provision stopping Congress from passing spending bills that would cause debt above the set limit. It's like saying: "you can spend as much as you want, but you can only actually pay back a certain amount." It makes no sense.
Originally posted by EladarNews Flash! This has been going on for quite awhile, and I assure you, lot's of people care. Expecting fair and balanced accounting practices from ANY government led by politicians is much the same as throwing a wounded fish into a pool of pinarnha, and expecting it to survive.
http://cnsnews.com/news/article/treasury-ran-98-billion-deficit-july-debt-stayed-exactly-16699396000000
These guys are above the law and nobody cares.