Seth CotlarJan 22, 2023
Because, like Republicans, I believe that running a household’s budget is the same as running a nation, I’ve informed my credit card companies and the bank that holds my mortgage that I’m simply not raising my debt ceiling and will not be paying them. I’m sure this will be fine.
Show threadKevin Karhan Jan 23, 2023

@sethcotlar #DebtCeiling is just a form of #Racketeering and the systemic uncertainty is why I'd never buy U.S. government bonds.

Even #Japan with 250% debt has better #CreditRating as they at least pay their interest and rates on time!

Also the original spending had been approved already...

Show threadvolkrisJan 23, 2023

@kkarhan @sethcotlar

The debt ceiling isn’t racketeering.

It’s merely the recognition that the legislative branch is the one authorized to commit to borrowing on behalf of the population it represents, and the debt ceiling is just the total amount that it’s authorized in borrowing.

Show threadKevin Karhan 

@volkris @sethcotlar the #DebtCeiling system is absurd as no other nation of relevance for the global economy besides the USA consistently fails at it - espechally when it's not as if the Government can just spend more than what was already approved before.

Thus it allows for paradoxical bs like requiring the Government to spend Amount x on A to Z but without being allowed to actually have amount x cuz that's bigger than debt limit y - existing debt w.

Jan 23, 2023 at 5:07pmWeb
Show threadKevin Karhan Jan 23, 2023

@volkris @sethcotlar it's like playing Russian Roulette with a fully loaded Stechkin set to full-auto instead of Nagant Revolver and then complaining why noone wants to dare...

Kinda like demanding to "fry eggs" yet ban both heat and food-grade ethanol to make the protein stiffen up...