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Re: Fiscal Cliff
Daye #112146 01/02/13 02:48 PM
Joined: Jan 2006
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Sini
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Sini
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Joined: Jan 2006
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Quote:
why have a debt ceiling at all


Good question. Considering that debt ceiling is mostly concerns covering the bills for the expenses already incurred by a budget passes by the Congress... Wouldn't budget bill be a more appropriate way to handle spending cuts?

I would be all for "honor debt obligations" bill, then they can shut government and services all they want until they agree on something. Until then, defaulting on your financial obligations is a big "No No" in my book.

Last edited by sini; 01/02/13 02:50 PM.
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Re: Fiscal Cliff
Wolfgang #112150 01/02/13 03:34 PM
Joined: Nov 2005
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Derid
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Derid
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Actually the govt is Constitutionally obligated to honor debt. Default is never a legal option, though of course the govt can lay off workers. (Considering shut down of services a temp layoff in this case)

For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)
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