Friday, August 5, 2011

WE ARE BEING HELD HOSTAGE AND LIED TO.

“As this page said in 1961 — not remotely for the first time or the last — the “debt limit does not limit the debt.” It’s an illusion of a law, instituted in World War I, to persuade gullible taxpayers that Congress is exercising responsible oversight over borrowing. Congress already controls spending and taxation, and if it wants a smaller debt it can cut spending or raise taxes at will.
To allow the deficit to rise, and then refuse to pay for it months later, is the definition of financial irresponsibility.” - NYT Editorial Staff

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