This whole "debt ceiling" thing is just an opportunity for politicians to posture.
There is no "debt ceiling" other than that number beyond which China will not buy our debt, and nobody knows that number.
posted on 11/27/2012 4:45:58 PM PST
( Member of the Original Defiant Class)
China stopped buying our debt several years ago.
In the recent era, there are two buyers of US debt:
1. Holders of Euros who know it is even more screwed than the USD.
2. The Federal Reserve.
posted on 11/27/2012 6:14:20 PM PST
(The Lord uses the good ones; the bad ones use the Lord.)
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