Remarkable: a Republican president advocating for the permanent removal of federal government borrowing limits. http://wapo.st/2jbm9Oy pic.twitter.com/EWYVhCUvqI
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In the end, most understand that the ceiling must be raised and that's what happens, but without this review there is little examination.
I know that's not textbook ideal, but in practice, there is no other real political forcing function for spending reexamination.
In practice debt ceiling it's a football. If the reexamination theory were correct would you expect our deficit/debt to be different?
It's not academic. Talk to anyone in finance markets. One of us is talking about real billion $ costs. The other "debate." Which is academic
Heck let's ask @AKimCampbell - she used to be PM of Canada! Kim what do you think?
Tying debt ceiling to the budget cycle instead of trailing. Don't pass legislation that not funded.
Take it up with the Budget. Debt ceiling means paying for what you spent.
But it clearly doesn't. You just said it always get authorized/raised. It's all for show. Spending happens when laws/budgets are passed.
The debt limit is money we've already spent. It's misnamed. It's never been used as a political football b4
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