What’s the debt ceiling and why it’s an obsolete way to control spending

William D Lastrapes, University of Georgia
The US is once again on the precipice of default on its national debt – not because of a fundamental inability to generate and collect tax revenues (a la Greece), but because of political shenanigans over the country’s debt ceiling.
The Treasury Dep… http://www.thecherrycreeknews.com/whats-the-debt-ceiling-and-why-its-an-obsolete-way-to-control-spending/ #BondCreditRating, #Colorado, #CreditRating, #NorthDenverNews, #RepublicanPartyUnitedStates, #StandardPoorS, #UnderSecretaryOfTheTreasuryForDomesticFinance, #UnitedStates, #UnitedStatesDepartmentOfTheTreasury