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Author: PeterRabit Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1949645  
Subject: Re: Geithner: get rid of debt ceiling Date: 11/17/2012 11:01 PM
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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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