The debt ceiling scaremongers

posted by
May 4, 2011
The Boston Globe
by Jeff Jacoby  
Posted in Commentary, PND Commentary

"As the public debt of the United States approaches the $14.3 trillion limit currently allowed by law, Congress is being pressed by the Obama administration to change the law and raise the limit. ... If the US government were to default on its debt, the fallout would indeed be calamitous. ... But as anyone with a credit card or home-equity line of credit knows, reaching a borrowing limit and defaulting on debt are two very different things. Maxing out your credit card doesn’t mean you’re broke, it only means you can’t borrow more money." (05/04/11)

http://tinyurl.com/3le6vkr  

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