The Debt Ceiling... Questions, comments, concerns?
posted over 13 years ago
I'll start with a question (partly out of a lack of research on my part, partly to see how many other people can actually give an answer): What exactly are the consequences of hitting the debt ceiling?
Both sides agree that something needs to be done, the only deliberation is how to get it done. So far as I can tell, Democrats want the debt ceiling raised so that the government can continue to pay off all its bills, but we would continue to accrue debt as quickly as we had leading up to this fiasco... which would inevitably lead to a need to raise the ceiling again... seems to me like paying your credit card bills with another credit card
Can someone tell me if the Republicans are refusing to raise the debt ceiling at all, or just that they refuse to raise it if their demands for cuts to social programs arent met