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View Diary: Coin Seigniorage, the Debt Limit, and the President's Duty (31 comments)

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  •  because (2+ / 0-)
    Recommended by:
    neroden, Roadbed Guy

    the debt limit is a useful tool.  Why undermine your capability to use it to pass the legislation you want?

    •  Because (1+ / 0-)
      Recommended by:

      There are many reasons. But basically, the debt limit has no place in our financial system. It creates uncertainty that threatens the economy. That's too high a price to pay when you could just use the appropriations process if you want to limit spending.

      •  Obama is using the threat of default to (0+ / 0-)

        pressure the Republicans.  They created this trap for themselves and now they find that they are on the short end of it.  The pres has offered a lot of compromises to avert the disaster and the morons are not willing to deal.  That will be the "takeaway" from this particular kabuki theater.  The default will happen because it is necessary for the American people to understand what it means to elect Republicans.

        •  Maybe so (1+ / 0-)
          Recommended by:

          But if it doesn't occur because the Republicans finally agree to $4 T in cuts including safety net cuts, then I think Obama is a goner in 2012, and maybe the Democratic Party too.

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