US reaches $14tn debt limit...
  • redboneredbone May 2011
    Link to article: http://www.bbc.co.uk/news/business-13416475

    I think it is absolutely absurd that the desired response to reaching the cap is to simply raise it. What is the point in even having the cap if this is what happens?

    I'm completely baffled here. Last time I checked the correct response to debt is - stop spending money you don't have, and find a way to start getting back into positive numbers. This response is - we need to be able to spend more money that we don't have.

    Every time I look at how far into debt the government is and the solutions that are being implemented, it makes me feel more and more like they are playing with Monopoly money, with the rules on the back of the box thrown out the window.

    I just can't see how this trend is going to turn around and bring about a positive result in the future.
  • mungomungo May 2011
    Just an FYI -- The US has only not been in debt once, and it was in 1865.
  • redboneredbone May 2011
    >.<
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