crescen7 Wrote:
Jan 15, 2013 7:19 AM
This article is an exercise in ignorance. The author refuses to acknowledge the difference between debt and future spending. The government need not "default" on debt without new borrowing, as monthly revenue of roughly 200 billion far exceeds debt service of under 15 billion dollars. (Total 2012 debt service was 113 billion) Refusing to raise the debt ceiling and asking the government to squeeze by-by prioritizing the available 185 billion until they produce a sustainable budget is an infinitely reasonable position. It is idiots like this author who define any reduction in spending as "default" that should end their participation in this debt ceiling debate.