To: SumProVita
Before the debt ceiling was implemented the Treasury did not have unlimited borrowing power. Instead Congress had to approve every single bond issuance. If an old bond matured and we needed to borrow to pay it off then Congress had to vote for that. That's what things will be like again without the debt ceiling.
16 posted on
06/23/2012 7:21:12 AM PDT by
KarlInOhio
(You only have three billion heartbeats in a lifetime.How many does the government claim as its own?)
To: KarlInOhio
I STRONGLY doubt that things would be that way again....under THIS administration.
19 posted on
06/23/2012 7:26:05 AM PDT by
SumProVita
(Cogito, ergo...Sum Pro Vita. (Modified Decartes))
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