American Morning
What's the next financial challenge for the U.S.? Hitting the debt ceiling
(CNN) In 2006, Obama voted against raising the U.S. debt ceiling. But now, he's asking Congress to do just the opposite. Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Ten of those times have occurred since 2001. White House press secretary Jay Carney said failing to raise the ceiling would be "Armageddon-like in terms of the economy." Should the debt ceiling be raised or not? CNN's American Morning speaks with Harvard economics professor Kenneth Rogoff about the intricacies of doing so.
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Let's get serious...the debt ceiling must be lowered. At least 72 times. This conversation about continuing to print more money and just raise the level of debt we are allowed to attain is absolutely ridiculous.
Its eerily similar to the time I told my four year old we didn't have money for something he wanted in a store. He told me to just go to the machine and get more money. He meant the ATM. He thought it just printed money. For anything. For anybody.
Is anyone else frightened that we have a President with the same rudimentary understanding of finance and economics as a four year old?
Yes I do!! I really don't wanna be a part of Armageddon! If we are to put workers back to work etc., we need the tools to do this. As for Boehner's comment, it will cost the Dem's big, sounds like a childs remark. Is he trying to help this country, or just one-up the Demorats?
If I did what Congress did (raising my debt ceiling constantly) I would probably be arrested. I guess when you are president you see the "urgency" of having to raise the debt ceiling more than when you are just a senator. Pathetic. Out of control spending.
Yes I do!! I really don't wanna be a part of Armageddon! If we are to put workers back to work etc., and have the tools to do this, it will cost to do this. As for Boehner's comment, it will cost the Dem's big, sounds like a grade-school remark in the first place. Is he trying to help this country, or just one-up the Demorats?