Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (611963)	5/20/2011 12:53:10 AM
From: TimF	Read Replies (1) of 1579686

Geithner said the crisis over the debt ceiling was bound to be resolved. “Ultimately people know they can’t put in doubt the creditworthiness of the United States.” Both statements might be true, but neither has much of anything to do with the other. The federal government brings in a lot more revenue than it spends on interest on the debt. We could have a permanent totally inflexible and perfectly enforced debt ceiling and the faith and credit of the US would not be in danger for now. I do think the debt ceiling should be increased (after extracting some benefit in terms of reduced spending going forward), because as much as I want some control of government spending, I don't think very large cuts should be made very quickly. I don't think its a good idea to try to cut over a trillion and a half in one year. But none of that has anything to do with the US's credit rating. And in fact if we reduce the amount of additional debt going forward its good for the credit of the federal government.

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