Jan 3, 2011

Debt Ceiling

Top White House economic adviser Austan Goolsbee warned Sunday that a congressional failure to rise the nation's debt limit early this year would be "catastrophic."

"It pains me that we would even be talking about this," Goolsbee told ABC's "This Week." "This is not a game. You know, the debt ceiling is not something to toy with. … If we hit the debt ceiling, that's essentially defaulting on our obligations, which is totally unprecedented in American history. The impact on the economy would be catastrophic. I mean, that would be a worse financial economic crisis than anything we saw in 2008."More

Uh, yes. Catastrophic that two Administrations spent enough to have to even discuss raising the debt ceiling - again.

We'll just give the alcoholic driving the car in the school zone a couple more shots. I mean, what could possibly go wrong?

Hell - why even have a debt ceiling? They're spending like there's no tomorrow anyway - what's some arbitrary stop sign going to do to slow them down now? They'll just move the goal post a couple more times until we have to give everything back to the Cherokee Nation. Perhaps they'll buy it back for a necklace and some small pox infected blankets? They're going to be super pissed to see what we did to the place. We probably won't get our security deposit back.

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