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Subject:  Re: Geithner: get rid of debt ceiling Date:  11/17/2012  11:01 PM
Author:  PeterRabit Number:  1837943 of 1968319

Are you aware of any corporation that has a "debt ceiling"?

I you don't want more debt, don't obligate yourself to spend money (budget process).

If you spend more than you have coming in, your creditors expect to be paid back. If their loans are due, they expect you to find the money to pay them back somewhere. They don't care where you borrow the new money, and they don't give a darn about your "debt ceiling".

Peter
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