Posted inCurrent affairs
Raising federal debt limit has no effect on spending. None. Zilch.
It drives me nuts -- or rather, nuttier than I already am -- to hear congressional Republicans blathering on about how not raising the debt limit is key to cutting federal spending. Here's a fact (ooh, scary! a fact!) for these Tea Party types: the federal debt limit has absolutely nothing to do with new future spending by the government. If you read the information below you will discover that the debt ceiling that the Republicans are using to blackmail President Obama really has nothing at all to do with “increased spending.” The debt ceiling is a formal acknowledgement of…
