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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Mr. Bernanke states, "Get rid of the debt ceiling."


  • lol, I would never have guessed!
  • I think Bernanke is absolutely right. There is a ton of misunderstanding about the debt ceiling. It has nothing to do with planning new debt or cutting future expenditures. It has everything to do with paying what they (congress and it's predecessors) already spend. The arguing should come when planning the budget, not after you spent the money. If you gave your word that you would pay, man-up and pay your bills.

    Here is a little historical perspective,

    "Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents."

    Why should there even be a vote or question if we will fulfill our countries obligations? That I think is what Ben is saying.

    Source of quote
  • edited January 2013
    Reply to @MikeM: "The arguing should come when planning the budget"

    What budget?
  • OK, people will probably disagree but I have a rather strong opinion. I think the debt ceiling has become just a political tool that is not used to the advantage of the nation. In fact, I consider current behavior to border on treason for the lack of consideration of the nation's welfare. The government is not doing it's job when elected employees fail to even try to come up with a budget. They are not doing their job when they fail to compromise. They are not doing their job when they confuse existing debt with current revenues in a way that threatens, and threatens, and ... default again and again and again.

    I read an interesting and kind of true outrageous comment today. It went sort of like this. Terrorists are losers who can only get their way by keeping others in constant fear. Of course, I realize that I am the only one that is tired of this constant attack on the American people.
  • No, no... there's at least two or three of us, I'm pretty sure.
  • Reply to @Old_Joe: Count me in.

    Debt ceiling has become a political obstruction tool. One day a Republican administration will come to power and then should Democrats refuse to increase debt ceiling should their (insert favorite issue) not passed? There is always a payback time. Republicans are setting an example which they might regret later.

  • Reply to @Anna:
    Well put, Anna. Enough of holding the people hostage.
  • The user and all related content has been deleted.
  • Reply to @Maurice: Mo, I hear that Republicans in the house like to play "Russian Roulette" with their pistols. That is probably their fondness of guns are coming from.
  • edited January 2013
    Don't I wish. But at least they're playing Russian Roulette with their stance on immigration for hard-working people who for all practical purposes already have "immigrated". Eventually that might help...
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