Congress has lost its mind...

skysidhe · 07-19-2011, 10:38 AM

I watched some news programs last Sunday trying to understand the debt ceiling. As usual,much finger pointing to the other side.

From what I understand, if the debt ceiling isn't increased there will be no money to pay debts. If it is increased the government can borrow money to pay it's debts. What I do not understand is where this borrowed money would come from? From or who would the government borrow money or do they just make more? Steal more? ah-hem...I mean take from peter to pay Paul. I thought peter was broke too.

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07-19-2011, 10:38 AM	#10
skysidhe ~~Life is either a daring adventure or nothing.~~ Join Date: Apr 2006 Posts: 6,828	I watched some news programs last Sunday trying to understand the debt ceiling. As usual,much finger pointing to the other side. From what I understand, if the debt ceiling isn't increased there will be no money to pay debts. If it is increased the government can borrow money to pay it's debts. What I do not understand is where this borrowed money would come from? From or who would the government borrow money or do they just make more? Steal more? ah-hem...I mean take from peter to pay Paul. I thought peter was broke too.

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