No. of Recommendations: 1
TD1 I agree. It would be *really nice* to have Obama put his signature on his very first official budget.

Has Congress passed a budget and sent it to the President's desk which he then vetoed?

Except that once you start borrowing the money left and right, your ability to pay it back gets less and less. Why? The interest payments you have to make reduce your ability to expand into new things, a problem that gets magnified when all the money you're borrowing is going to service your past obligations. In other words, it's a death spiral.

I know. And a paper "ceiling" has no effect on the death spiral.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.