That all may be so, but none of that has anything to do with the debt limit, which is pretty much just an artificial construct. The debt limit, of course, is simply about our government paying the bills that have already been spent. Control of spending happens when bills get passed - or not.
I agree that we should just eliminate the debt spending limit, since the costs of a default would likely be beyond anything we've seen in our lifetimes - even us old pharts! For one thing, if our nation defaults on its loans and our credit goes into the tank, it would end up costing all of us, including tons more interest on what we've already spent; the exact opposite of the goal stated above - which I hope is something we could all agree on.
Maybe it's time for another rash of comments to Congressional Representatives to tell them to not use the debt limit as a cudgel or bargaining chip and putting our entire economy at risk!
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