Quote:
Originally Posted by Adak
Your disconnect denying the obvious connection between spending and the debt limit, in the face of our HUGE increase in spending under Obama, borders on a mental defect.
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First of all, I've denied nothing about any connection between spending and the debt limit. When you can cite a contrary example, your petty name-calling will be justified. Until then, you just keep your mental defect badge.
Quote:
Originally Posted by Adak
Consult any 10 year old - when you have only 90 cents, you don't keep buying the one dollar candy, and have to keep borrowing from your friends, to do so.
Because you will run out of THEIR money, and then you'll be broke and probably friendless for a spell, as well.
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Adak, our country's fiscal and monetary policy is not run like a ten-year-old's. You know that. When you make such a comparison, you insult me and you embarrass yourself. Please stop it.
Quote:
Originally Posted by Adak
I know it's safe for a country to run up a national debt, and we don't need to panic every time the debt increases -- but come on! We can't just run our currency into the realm of being worthless and cause a monetary crisis!
As with most things, there are reasonable limits, and we have far exceeded ours.
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Ok, now to the obvious connection between our spending the debt ceiling. I notice now you use rational, neutral terms like "our" and "a country". I am glad for the change of tone, thanks. If you think we've far exceeded the reasonable limit to our borrowing, what is that limit? How much debt do you think we can reasonably bear?
A more pressing question is how to deal with the debt limit now. We both listened to the President's press conference of the other day, I'll tell you now, I agree with his characterization of the debt ceiling and what to do about it and importantly, what not to do about it. Last first--dithering and arguing and fiddlefarting around while NOT immediately and decisively raising the debt ceiling is all by itself a very bad idea. Acting (Congressional acting) as though there might be any kind of suggestion whatsoever that the United States will not pay our debts is irresponsible and dangerous.
That is just the effect that trying to link debt ceiling increases, which must be done by Congress, with any other business. Anything besides "Yes, and here's the limit (which in my opinion should be high enough to make further such discussion moot for a year or more), generates more of that "uncertainty" that is anathema to the business community. It's a Bad. Idea.
What is your position?