OT:President Asks Europe:"What R You Prepared 2 Do?

[tjscott0]

@MarkR

@UpNorthJoe

why does he want a $4,000,000,000,000 increase in the debt ceiling?

Because of reality? The reality is that every penny of our debt is repeatedly refinanced, and every penny of the interest on our debt is repeatedly refinanced, AND all the excess spending is newly financed.

Yep.
As long as the US economy is expanding and the US dollar is the world’s reserve currency–debt does not seem to matter except as a political issue that the out-of power political party utilizes as a cudgel to beat the in-power political party.