Debt ceiling should stay where it is

posted by
May 22, 2011
Orange County Register
by John Tamny  
Posted in Commentary

"Treasury Secretary Timothy Geithner has said that if Congress doesn't agree to a debt-ceiling increase, the federal government won't have the means to pay its bills, and that such a scenario would deliver on us a 'catastrophic economic impact.' Geithner has been joined in this bit of scaremongering by Fed Chairman Ben Bernanke. For fun, let's assume for a moment that, just as stopped clocks get the time right twice a day, Geithner and Bernanke are, for once, correct. If so, their warnings explain why it's essential that a Republican House that pays lip service to smaller government must not give in to Geithner's apocalyptic warnings." (05/20/11)

http://www.ocregister.com/opinion/treasury-301377-interest-default.html  

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