tag:blogger.com,1999:blog-4900303239154048192.post7068910752318182883..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Debt Ceiling Nonsense Yet Again - A Catch 22?Unknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4900303239154048192.post-10578955219961664232021-09-23T22:38:36.836-04:002021-09-23T22:38:36.836-04:00Read that the debt ceiling concept was put in plac...Read that the debt ceiling concept was put in place to place a check on Wilson for WW1 due to isolationist concerns that excessive bond sales would take place and support the war efforts and expansion. Agree - it's time has passed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-28538543503760570392021-09-22T20:50:10.875-04:002021-09-22T20:50:10.875-04:00The Gephart rule was reasonable. But the best woul...The Gephart rule was reasonable. But the best would be to simply end it permanently. It serves no useful purpose, and it is too easy to change it from something harmless when there is something like the Gephhart rule in place to something that is not, like we have now.rosserjb@jmu.eduhttps://www.blogger.com/profile/09300046915843554101noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-2536736013748227052021-09-21T23:20:44.508-04:002021-09-21T23:20:44.508-04:00Unfortunately, Congress consistently brings the go...Unfortunately, Congress consistently brings the government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations.”<br /><br />— President Ronald Reagan, Sept. 26, 1987<br /><br />in yesteryear there was the Gephart rule were it was raised as part of the budget process...Anonymousnoreply@blogger.com