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[–]Zapped 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

How can an entity promise to spend more money than it is allowed to "borrow"? The debt ceiling was $5.5 billion in 1996. It now sits at $31.38 trillion. My thought is that you shouldn't promise to spend more money than that amount which you have access. Also, this part of this debt is to pay back Social Security and Medicare that Congress has robbed from. Another piece of legislation meant to fix one problem (WWI spending) but being abused for another purpose.

https://www.pbs.org/newshour/politics/analysis-what-is-the-debt-ceiling

This article is from PBS (originally from The Conversation) by Steven Pressman and he mixes in his opinions with the facts, but it does a pretty good job of explaining the debt ceiling.

[–]pandorasbox[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Imagine writing a boatload of rubber checks on your personal or business account..

Our national debt of $31 trillion is the equivalent of each and every person in the United States has their account overdrawn by $100,000.00

There is NO WAY to ever pay it back, and the interest keeps piling up

The only way out of this mess, along with our climate disasters, is to kill 90% of the world's population.

Get vaccinated.

Problem solved.