The threat is in the spending

posted by
July 6, 2011
Foundation for Economic Education
by Christopher Lingle  
Posted in Commentary

"The U.S. government is close to hitting its debt ceiling, and while much is said about protecting the 'full faith and credit' of the United States, this is a sideshow since all the government must do to avoid default is to meet interest payments. In all events, the lack of a plan to control government spending poses a much greater threat to America’s credit standing than uncertainty over whether the debt limit will be raised." (07/06/11)

http://tinyurl.com/3zny3r6  

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