05 Oct 2013

Bob of Christmas Past on Debt Ceiling

Debt, Shameless Self-Promotion 3 Comments

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.

3 Responses to “Bob of Christmas Past on Debt Ceiling”

  1. Innocent says:

    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.

  2. Daniel Kuehn says:

    Christmas is in December, Bob.

    • Cosmo Kramer says:

      “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.”

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