If We Don't Raise the Debt Ceiling We Won't Default!

SEE HERE The economic ignorance of the population and the news media is really quite beyond belief. Just because we can't take on more debt doesn't mean we can't service the interest on the debt we have. It shakes the confidence that there is any common sense left in the land to imagine that people who have to pay their own bills don't understand that at some point the credit has to stop. We're in a position of unsustainable debt if we keep growing the debt. When that happens you have to cut back. You can do a lot simply by stopping the growth and don't replace those who are retiring. Trimming back at something like 10% a year is quite effective. It will also produce the wondrous result of people discovering how little they are getting for the money.