Because it has failed so many times before, we have to do raise the "limit" (hah! The word has become a joke!) yet again!!!
June 14, 2011, 3:17 p.m. EDT
Bernanke: Don’t play politics with debt limit
Not raising debt ceiling would be self-defeating
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) — The White House and Congress should work together in “good faith” to solve the nation’s budget crisis and shy away from using a necessary increase in the debt ceiling as a tool to bend the will of opponents, Federal Reserve Board Chairman Ben Bernanke said Tuesday.
“I fully understand the desire to use the debt limit deadline to force some necessary and difficult fiscal policy adjustments, but the debt limit is the wrong tool for that important job,” Bernanke said in a speech to the Committee for a Responsible Federal Budget.
Bernanke urged Congress to put the debt ceiling increase on a separate track from talks to put the budget on sounder footing.
Nothing should be done to shake the confidence of investors in the willingness of the U.S. government to pay its bills, Bernanke said.
“Failing to raise the debt ceiling in a timely way would be self-defeating if the objective is to chart a course toward a better fiscal situation for our nation,” he said.
Full story: http://www.marketwatch.com/story/bernanke-dont-play-politics-with-debt-limit-2011-06-14?dist=countdown
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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