Wouldn't the size of the national debt much more worrisome than not raising the debt ceiling?
The government takes in about 2.2 trillion dollars a year in revenue, and servicing the debt costs much less than that. Don't raise the debt ceiling because the government should live within it's means. Cut spending instead, and watch the economy will boom.
Asked By: Average College Idiot - 5/1/2011
Best Answer - Chosen by Asker
I'm sorry, but Keynesian theory suggests that things don't work that way. Economics is not something you can empirically test, so we can only work off of theories and past experiences... More
Answered By: Lisa K - 5/1/2011
Additional Answers (3)
It is workable. We just have to do a gradual change. Too fast and the economy goes in to shock.
Answered By: Pbs Learning - 5/1/2011
Did you turn all Republican on us? lol
Answered By: VotetheLibsout2012 - 5/1/2011
Get the rest of the repuks out of office and we can work on the debt. I seem to remember it was a balanced budget till bush got his hands on it.
Answered By: Matthew c - 5/1/2011
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