3 August 2011
No bad cheques this time round
The debt ceiling has been increased again, but Congress should just abolish the ceiling because it has been raised 74 times since March 1962 (including 18 times under Reagan, eight times under Clinton, seven times under Bush, and three times to date under Obama), and it's just getting redundant now. Even if this means US public debt reaches 15-digit amounts of money, there will always be a way to prevent any possibility of defaults on the debt already incurred. But they can fix this by having more taxes. For instance, the reason those nutjobs won't ban alcohol or tobacco is for the tax money. If they're after taxes, they can legalise pot or cocaine, or put taxes on foodstuffs containing caffeine, which can sometimes be classed as a drug. Or to cut down on prison costs (which are in part funded by taxes), alternative sentencing like the death penalty or judicial canings could be used, freeing up more money to reduce national debt. Another way to cut down on the ever-increasing debt would be to just print more money, which is what they should've done in the first place.
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