05
Oct
2013
Bob of Christmas Past on Debt Ceiling
Back in July 2011 I recorded a commentary for Campaign for Liberty on (not) raising the debt ceiling. They recently re-ran it, saying the numbers were a little different today but the general points are still valid–and I agree. In particular, the claim that failure to raise the debt ceiling is the same thing as defaulting on the government’s outstanding debt is simply not true.
Okay… so not raising the debt ceiling will NOT lead to default? Barring you cut services to balance the budget I cannot see how it would not ultimately lead to default.
Christmas is in December, Bob.
“In the southern hemisphere, winter falls in July. Therefore in countries such as Australia, New Zealand and South Africa in order to have Christmas with a winter feel Christmas in July events are undertaken.”