Some politicians think you’re stupid
There are among politicians, certain ones who think you’ll believe this:
“Now, this debt ceiling — I just want to remind people in case you haven’t been keeping up — raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you’ve already racked up, Congress. It’s a basic function of making sure that the full faith and credit of the United States is preserved.”
Obama went on to suggest that “the average person” mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt: “It’s always a tough vote because the average person thinks raising the debt ceiling must mean that we’re running up our debt, so people don’t like to vote on it, and, typically, there’s some gamesmanship in terms of making the President’s party shoulder the burden of raising the — taking the vote.”
First – what is it called?
Oh, a debt ceiling.
Anyone – what is the purpose of raising the debt ceiling?
To allow more debt.
If the debt ceiling isn’t raised, then the government can’t do what?
Increase our debt. Correct?
They can’t borrow (commonly known as going into debt) more money to pay those “bills” they’ve already “racked up”, can they?
So when “the average person” thinks that raising the debt ceiling means”running up more debt“, they’re absolutely dead-on right. Unless you plan on “running up more debt“, there is no reason to raise the debt ceiling, is there?
It’s called a “debt ceiling” for a reason.