This is President Obama's and Crybaby/Coward/Senile Harry Reid's wet dream:
From CNS News: Treasury Secretary Timothy Geithner said Friday that Congress should
stop placing legal limits on the amount of money the government can
borrow and effectively lift the debt limit to infinity.
On Bloomberg TV, “Political Capital” host Al Hunt asked Geithner if he believes “we ought to just eliminate the debt ceiling.”
“Oh, absolutely,” Geithner said.
“You do? Will you propose that?” Hunt asked.
“Well, this is something only Congress can solve,” Geithner said.
“Congress put it on itself. We've had 100 years of experience with it,
and I think only once--last summer--did people decide to use it to
threaten default on the American credit for the first time in history as
a tool for political advantage. And that’s not a tenable strategy.”
Hunt then asked: “Is now the time to eliminate it?”
“It would have been time a long time ago to eliminate it,” Geithner said. “The sooner the better.” http://cnsnews.com/news/article/treasury-secretary-geithner-lift-debt-limit-infinity
This is just a stupid idea and it will let the President and Congress to spend whatever they want.
At least, in previous years when we came close to the debt limit, some reforms were passed and some spending was curtailed. Apparently it is Geithner's wish to spend whatever the President and Congress want to spend, with no limits.
Gee, why not mention this before the elections. The Democrats real colors are really showing now.
Time to get rid of this moron.
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