Letter: The debt ceiling is more than a shell game

October 14, 2013 

The editorial by Paul Krugman on Oct. 2 stated, "... failure to raise the (debt) ceiling would mean missed payments on existing U.S. government debt." What is wrong with that statement? Isn't that the same as me, not the bank, raising my credit line on my Bank of America credit card so that I use it to make my payment on my Banner Bank credit card? And then increasing my credit limit on my Banner Bank credit card to make my Bank of America payment? I wish I had that power.

It is time that our government leaders, if you can call them that, to wake up and take a course in economics. Not only can our government not pay their "current debt obligations," they are now increasing our debt by untold billions of dollars that we do not have for Obamacare.

In the recent housing crisis, if you couldn't make your mortgage payment, you lost your house. That apparently doesn't apply to the government. But, simple economics dictate that if I cannot afford to make the payment, I do not buy a house, new car or whatever.


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