Barry Bosworth, a senior fellow at the Brookings Institute, said the U.S. debt ceiling “has no logical basis.”
Congress, through budget and appropriations bills, has sole authority to decide how much the government will spend, so he said “it makes no sense to have a secondary rule to then object to the deficit that emerges from the other decisions.”
The debt ceiling, Bosworth said, is a ”political device” that the minority party uses “to fuss and posture.”
http://blogs.abcnews.com/thenote/2011/07/only-one-democratic-country-besides-america-has-a-debt-ceiling.html
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