Madison320
02-11-2014, 04:29 PM
We used to hit the debt ceiling and then raise it to a new fixed amount. For example if the debt ceiling is 10 trillion and we hit it, we raise it to 12 trillion. Now we no longer do that. When we hit the debt ceiling we SUSPEND it altogether for a limited amount of time. I think this a significant change because now there's no limit to how much we can spend. At least before if we went on a borrowing spree we'd hit the new limit faster and be faced with having to raise it again. Now it doesn't matter how fast we borrow, the only limit is the time. And this time it looks like we're going to suspend it for a much longer time period than the previous two times we suspended it. What's really disturbing to me is that I have not heard one person mention this. The government has removed a major power restriction and no one has even noticed.