http://thehill.com/blogs/on-the-money/801-economy/157761-geithner-debt-ceiling-debate-ridiculous
Treasury Secretary Timothy Geithner on Tuesday slammed the debate over raising the debt ceiling as “ridiculous” and said it is “irresponsible” for policymakers to leave the impression the U.S. might not pay its bills.
Geithner also said that he was confident that lawmakers would increase the debt limit, but stressed that he would like to see that happen sooner rather than later.
The Treasury secretary said the tussle over the borrowing limit "is a ridiculous debate to have."
Please, correct me if I'm wrong, but isn't the point of having a debt limit in the first place to stop the government from going too far into debt and forcing Congress to debate whether it is appropriate to raise it? If little Timmy is right and Congress should simply rubber stamp an increase in the debt limit without any debate at all, then what's the point of having a debt limit in the first place?
I mean, isn't the point of having a debt limit to give Congress a chance to decide IF the limit should be increased? Aren't they supposed to inject some sanity into our fiscal picture when it's warranted?
But now you've got Democrats across the nation arguing that even having that debate is irresponsible and dangerous. Why won't they be completely honest with us and submit a bill that would remove the debt limit entirely? That's what they seem to want, after all, and such a bill would make clear to every voter in the nation that the drunk shopaholic chick has stolen the national credit card.
Oh, THAT'S why they don't do it... because they know the voters would respond negatively to such a blatant display of greed and political stupidity.
Little Timmy, PresBo, Mr. Reid... the debate on whether or not to raise the debt limit is proper and prudent, not irresponsible as you're trying to portray. In my opinion, rubber-stamping an increase without any discussion at all is the irresponsible move, here.
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