Two sentences on the debt ceiling

The Atlantic’s James Fallows says these two sentences should be part of all discussion of the debt ceiling

• Raising the debt ceiling does not authorize one single penny in additional public spending.
• For Congress to “decide whether” to raise the debt ceiling, for programs and tax rates it has already voted into law, makes exactly as much sense as it would for a family to “decide whether” to pay a credit-card bill for goods it has already bought.

via James Fallows – The Atlantic.

Tags: Debt ceiling