JVoV
Posts: 3664
Joined: 3/9/2015 Status: offline
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https://en.m.wikipedia.org/wiki/United_States_debt_ceiling Congress found a loophole in the Constitution, to preapprove debt to a certain limit, instead of approving each additional debt incurred by the government. You can't get out of debt without paying more than just the interest, but then that's austerity talk, and we can't be having that. The dollar amount soared under Obama, but then highest % increases came during Reagan & HDubbya's 12 years in office. The tax policies haven't changed much since, and spending hasn't been cut more than anecdotally in any sector of government. Even the 'balanced budget' of the Clinton era didn't pay off any real debt. But that went out the window after 9/11 anyway. Two Wars have been financed without tax increases. Major bailouts have been financed, again without tax increases. And our Congressmen are whores. No matter what their official stance on spending is, they go for as much as they can get for their districts, and that means making deals to give other districts money too. The entire system.in convoluted.
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