Smash the Ceiling

The truth is that the United States doesn’t need, and shouldn’t have, a debt ceiling. Every other democratic country, with the exception of Denmark, does fine without one. There’s no debt limit in the Constitution. And, if Congress really wants to hold down government debt, it already has a way to do so that doesn’t risk economic chaos—namely, the annual budgeting process. Full Story »

Posted by Mary Hartney - via Memeorandum, Ray Nichols (t), Josh_Young (t), Mark Suwyn (t)
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Subjects: U.S., Politics, Business, Living
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# Diggs: 2 (as of 2011-07-27)
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Posted by: Posted by Mary Hartney - Jul 24, 2011 - 11:05 PM PDT
Content Type: Article
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Edited by: Mary Hartney - Jul 27, 2011 - 11:12 AM PDT

Reviews

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Jonathan Brough
3.8
by Jonathan Brough - Aug. 3, 2011

Puts the current debate into context by underlining why it is occuring and what the impact is of decisions on either side.

See Full Review » (9 answers)
Kristin Gorski
4.0
by Kristin Gorski - Aug. 3, 2011

Advocates of the ceiling like the way it turns the national debt into front-page news, focussing the minds of voters and politicians; they think it fosters accountability, ... More »

See Full Review » (18 answers)
Mary Hartney
3.8
by Mary Hartney - Jul. 27, 2011

These days, the debt limit actually makes the President less accountable to Congress, not more: if the ceiling isn’t raised, it’s President Obama who will be deciding ... More »

See Full Review » (12 answers)

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