Misty
Gold Member
- Aug 11, 2009
- 7,137
- 1,958
Started in 1917 to fund the war.
Of course congress abused it and continues to do so by not balancing our budget.
Why Do We Even Have A Debt Ceiling Law?
"At no time has the debt ceiling acted to restrain either Federal spending or Federal borrowing. Moreover, during the 30 year period from the late 1970s to today, the debt ceiling was routinely increased at least once every two years as we racked up more debt than wed ever had in the previous 200 years of the Republic. The debt ceiling has served, instead, as a way for Congress to pretend that it is being responsible, at the same time that it shirks its Constitutional duty:"
"There is nothing in the Constitution that requires that such a limit exist and, as noted above, Congress already has all of the necessary power to tax and spend to allow it to control the budget. Until theyre willing to take the steps to do that, the debt ceiling law is at best pointless, and at worst suicidal"
Of course congress abused it and continues to do so by not balancing our budget.
Why Do We Even Have A Debt Ceiling Law?
"At no time has the debt ceiling acted to restrain either Federal spending or Federal borrowing. Moreover, during the 30 year period from the late 1970s to today, the debt ceiling was routinely increased at least once every two years as we racked up more debt than wed ever had in the previous 200 years of the Republic. The debt ceiling has served, instead, as a way for Congress to pretend that it is being responsible, at the same time that it shirks its Constitutional duty:"
"There is nothing in the Constitution that requires that such a limit exist and, as noted above, Congress already has all of the necessary power to tax and spend to allow it to control the budget. Until theyre willing to take the steps to do that, the debt ceiling law is at best pointless, and at worst suicidal"
