U.S. Government "Debt Limit" to be Raised-Again
I have 2 observations here:
1. What's the point of having a "debt limit" if it is raised whenever it is reached? None at all. The point of debt limits is to limit debts, but if it can and are raised whenever debts reaches that level than the situation is no different from what it would have been without a formal debt limit.
2. If debts increase by a full $800 billion in just a little over a year, then the fiscal position of the U.S. government is anything but sound, notwithstanding the absurd assertions from John Snow in other contexts.