If Democrat Jerrold Nadler has his way, we won’t have any of those nasty partisan fights about the debt limit in the future. Because he’s busy writing a bill that will solve the problem by simply doing away with the debt limit.
Voila! Spend as much as you want, President Obama.
The Hill has the details:
Calling the debt limit “truly arbitrary” while blasting Republicans for playing a “dangerous game of chicken” with it, the liberal congressman said Wednesday he was drafting a bill to eliminate it.
“Let us abolish the debt ceiling, which has become a serious threat to our economic future and a pawn for Republicans intent on holding the economy hostage to impose their own extreme agenda,” he said in a statement.
Nadler also set his sights on credit-rating agency Standard & Poor’s, which last Friday issued the first ever downgrade of the nation’s once-sterling credit rating, setting off a tumultuous few days for financial markets.
No debt limit. It’s like having an open bar at an Alcoholics Anonymous meeting.
Source: The Hill
