Wow.
No limit credit card in perpetuity.
We are Greece if this happens. Or the Weimar Republic.
(not Photoshop, not fake; this is real.)
>>>We are Greece if this happens. Or the Weimar Republic.<<<
If it was not raised, there would be huge shocks as the govt would have to immediately cut $250B in spending. As most spending is on autopilot, those cuts would be forced onto a relatively small portion of the govt. It would cause huge problems. Maybe you don’t care about it, but most others do. And that’s just for today. If interest rates climb up, the debt service cost will soar, making things much worse budget wise.
Now if we can’t even stop spending more than we take in, we are already conceding the debt will never be paid. Are we not already Greece? We are only postponing the day the SHTF, but we are already hopeless no?
We already are since they never refuse to raise it.