Yep, the United States’ Treasury Secretary says there should be no limit on America’s incurred debt. Oy:
On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
“You do? Will you propose that?” Hunt asked.
“Well, this is something only Congress can solve,” Geithner said. “Congress put it on itself. We’ve had 100 years of experience with it, and I think only once–last summer–did people decide to use it to threaten default on the American credit for the first time in history as a tool for political advantage. And that’s not a tenable strategy.”
Ha, who are you kidding? Of course you’re not going to propose that — the Obama administration may be seriously incompetent, but even they know the American people would never support giving Congress a credit card with no limit.