Quote:
Originally Posted by halfpint
Isent this the third time they have had to raise the debt ceiling in order not to default ?
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Possibly, I've heard that statement here, but it is not typically emphasized in teh economics news I read.
I'd have to see the supporting sources - do you have them? It might be interesting toi look at that claim.
However, that's a peculiarity of our governing system, only one other country in the world has a debt ceiling law. All other countries give themselves the right to borrow as they see fit.
However, my point was, we had excellent credit until the new tea party driven republicans in the house decided to make this an issue.
We would not have any problems borrowing more money if it were not for the house. Our creditworthiness was not a concern globally.