Yes they can. If the United States keeps extending it's debt ceiling, all that means is they increase the amount they can borrow to keep paying the bills. If they exceed the debt ceiling, it means they have to pay the current bills with on-hand money. Which we have only enough of to last for a couple days. Which then results in the United States defaulting. Which crushes the global economy because it destroys a lot of the value the American dollar has in the global economy. And since the U.S. dollar is the standard currency for international trade, it basically fucks up all global transactions. Which then crushes the U.S. economy because of how connected the U.S. economy is to other economies. Which then puts us into relatively fuzzy waters of what will occur, but in all likelihood it would be a global depression.
So yes, we really can increase the debt ceiling, and it's to our benefit to do so. And it most certainly is NOT to our benefit to deliberately go over the ceiling and default for the sake of trying to "bargain" for "fiscal responsibility". It's the most paradoxical, and retardedly isolationist, claim I've heard made seriously by a good portion of people in a long time. Nothing good can come from not raising the ceiling at this point. You can lower it once you've obtained true fiscal responsibility and started paying it off. Because hey, that defense budget looks awfully bloated and taxes seem stupidly low for a government that's having money problems.
Literally, not raising the ceiling so you can pay off your debts is basically saying you're going to pay off your debts by filing for bankruptcy. It works, but it destroys your credit rating, and the United States can't afford to do that for itself, or the global economy. All claims that going over the debt ceiling limit won't be bad are severely lacking in any evidence to back up the claim, and have a mountain of economic theory and evidence to disprove.
So yes, we really can increase the debt ceiling, and it's to our benefit to do so. And it most certainly is NOT to our benefit to deliberately go over the ceiling and default for the sake of trying to "bargain" for "fiscal responsibility". It's the most paradoxical, and retardedly isolationist, claim I've heard made seriously by a good portion of people in a long time. Nothing good can come from not raising the ceiling at this point. You can lower it once you've obtained true fiscal responsibility and started paying it off. Because hey, that defense budget looks awfully bloated and taxes seem stupidly low for a government that's having money problems.
Literally, not raising the ceiling so you can pay off your debts is basically saying you're going to pay off your debts by filing for bankruptcy. It works, but it destroys your credit rating, and the United States can't afford to do that for itself, or the global economy. All claims that going over the debt ceiling limit won't be bad are severely lacking in any evidence to back up the claim, and have a mountain of economic theory and evidence to disprove.
nyan :3
Youtube Channel i sometimes post videos of other games
Youtube Channel i sometimes post videos of other games
