If you ever injected truth into politics you have no politics.

- Will Rogers

Your Leader

It has long been argued here that our current president is not particularly bright, no matter how much people wish and suppose otherwise. But if you want clear proof and have a very basic understanding of finance, listen to his words:

"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt. [Read]

Huh?

You could argue he is technically correct, that raising the ceiling does not increase the debt, it is the borrowing allowed under the raising of the debt ceiling that raises the debt, but you do not get one without the other. And if you want to propose his nuanced argument, you must share his utter contempt for the US citizenry. (Though, psychologically, you can understand his contempt for people that would put him in charge.)

Or perhaps he is suggesting he wants to raise the debt ceiling, but has not interest in future borrowing -- right, from the leader who has buried this country in more debt than any past leader of the USA, with a few more years of debt loading to go.

posted at 07:27:12 on 09/19/13 by clearpolitics - Category: Economics - [Permalink]

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The Gross National Debt