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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (109169)7/29/2011 10:36:08 PM
From: TimF4 Recommendations  Read Replies (1) of 224757
 
The validity of the public debt of the United States, authorized by law,...shall not be questioned

Is totally irrelevant to the current situations for the reasons I laid out.

Being late on payments != declaring the debt invalid.

And even if it did -

Not raising the debt ceiling != declaring the debt invalid, nor does it equal, imply, or force being late on payments.

In fact raising the debt ceiling, allows for more debt, which helps create the potential for an actual default in the future. If the government is constitutionally required to pay its debt on time (a very dubious assertion that has no support in the text of the 14th amendment or in any Supreme Court decision), then raising the debt ceiling helps move us towards the possibility of being forced to violate the constitution.

Which is not to say I think it shouldn't be raised. The required spending cuts would be too sudden. We need to get control over spending, but to do it right takes time, even though the spending is very excessive, it wouldn't be a good idea to cut it almost in half all at once.

But the out of control spending is such a serious issue, that it is reasonable to require some serious level of control in exchange for raising the limit on the government's credit card.
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