An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Wednesday, May 15, 2013
beowulf — Cicadas are back and so is the debt ceilin
Legal issues pertaining to H.R. 807 the Full Faith and Credit Act just passed by the GOP-dominated US House of Representatives.
Simple solution to defuse the debt ceiling time bomb is to have Treasury debt held by the Fed from QE asset purchases not apply to the debt ceiling. It's debt the government owes itself.
Is this drama going to happen every year from now? End it already, I beg you americans!
ReplyDeleteIgnacio, probably 90% of us think we have to borrow to spend.
ReplyDeleteThe only thing we want to end is spending. Lemmings.
Simple solution to defuse the debt ceiling time bomb is to have Treasury debt held by the Fed from QE asset purchases not apply to the debt ceiling. It's debt the government owes itself.
ReplyDeleteIs this drama going to happen every year from now?
ReplyDeleteonly when a democrat is in the WH