ItAin'tFree
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Um.... The debt limit is effectively a limit on the number of TBills the Treasury can sell to investors.
Here's how the government works. Congress dictates how much the government will spend and what it will spend it on. Then Treasury pays the bills. If Treasury doesn't have enough money from taxes, they raise money by things like selling TBills. We can do this very cheaply because the US government is considered to be one safest investments in the world.
However, the treasury isn't allowed to raise the money to pay for what congress has already approved, then the US will no longer be a safe place to invest. It will become expensive to finance our debt and our economy will crash.
I know you don't wish the US harm, but defaulting on the debt will destroy the US more than any terrorist attack ever could.
Well now, if the Treasury "pays the bills" how come the bill keeps getting larger? (I know the answer as most people do.)
The reason the "bill" keeps getting larger is not because the debt limit isn't high enough. The reason the "bill" keeps getting higher is not because the Treasury is not selling enough T-Bills.
It's spending to much money on things like Obamacare.