Monday, November 19, 2012

Treasury Secretary Suggests Eliminating The Debt Limit

On Friday I noted that I do not think the Democrats have any intention of dealing with the Deficit and debt problems.
It occurred to me on the drive home today that President Obama and Harry Reid are doing this because it is their intention to bankrupt the Country. They know that the country is on an unsustainable spending spree and intend to ride it out with no intent to fix it. - Link
Now comes an interview with Treasury Secretary Geitner stating that Congress should get rid of the Debt Limit. Basically, this would give the Democrats an unlimited pot to spend from.
Treasury Secretary Timothy Geithner said the U.S. “absolutely” should get rid of the debt ceiling as soon as possible.

“It would have been time a long time ago to eliminate it,” Geithner told Bloomberg TV on Friday. “The sooner the better.” - HuffPo (Found at Hot Air)
Sure you can say that there are limits, but that is hard to do without a budget. Like I said, they have no intention of solving the debt and deficit crisis. If they did, they would know how high the debt would grow before a plan of increased revenue and decreased spending would eliminate the deficit. Of course they might have even more plans for increasing spending. Perhaps legalizing the illegal aliens and giving them Obamacare benefits. That would surely increase Government spending.

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