Congress Raises Debt Ceiling

Comments

October 11, 2007 at 5:49 am

(1) Alphast says:

I can’t believe it… Who did that? I mean, isn’t it like adding gas on the fire when the US economy is going to be hurt by the subprime mortgage crisis?

October 11, 2007 at 2:13 pm

(2) Chuck Manson says:

What was the alternative? Shut down the government?

And, what does the “subprime mortgge crises” have to do with the debt ceiling? The economy is slowing down slightly as it does from time to time but not funding the government would mean that all those social welfare programs the lefties love so much wouldn’t be funded.

c

C

October 13, 2007 at 1:13 pm

(3) Jim says:

Chuck
All the raise is for is to prolong the war effert.

October 15, 2007 at 2:03 pm

(4) uspolitics says:

Alphast – as Chuck points out, the alternative would have been shutting down the federal government.

Jim – only part of that is money for Iraq.

October 16, 2007 at 7:12 am

(5) Alphast says:

I understand very well Chuck’s comment (and I agree). But, no offense, I still see the link with the subprime mortgage issue. The global trust in the US economy in general and its financial and monetary system in particular is a basis of the solvability of the US government. Most other governments would have been declared bankrupt with such a level of public debt. So increasing the debt ceiling is like telling publicly: “look, you have to trust us again a bit more” (and take more risks at a time where bankers are getting more and more risk adverse)… I hope I made my point a bit clearer.

October 16, 2007 at 2:25 pm

(6) uspolitics says:

Alphast, you have *very* good points, well-expressed.