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Three Lies They're Telling You about the Debt Ceiling
submitted 11 months ago by Drewski from mises.org
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[–]In-the-clouds 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - 11 months ago (0 children)
Consider this argument, as given in the article: Every time this happens, they raise the debt ceiling and we keep going. So, that's what will happen again this time....
That gives the false conclusion that there is no end to the US economy and no consequence to piling the debt higher. A more accurate analogy would be: He had high blood pressure and sometimes his chest hurt, but he took his pills and every day he woke up and kept going, until his last day.... when he had a heart attack and died.
Just because a sick man is alive today does not mean his flesh is immortal. His physical body will die sooner or later. The US economy is the same: It's sick and it is not being treated with a cure, but given temporary, quick fixes, which will eventually fail to keep it alive.
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[–]In-the-clouds 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 0 fun2 insightful - 1 fun - (0 children)