What do we call a person whose credit card payments are so high he can’t possibly pay them without taking out another credit card?
The word “idiot” comes to mind. “Irresponsible.” “Moron.” “Homeless.”
Things like that.
When it’s the federal government, though, which can’t make its debt payments without taking out even more debt, even after having borrowed record amounts in each of the past three years…well, then it’s irresponsible not to take out another credit card.
Why do I get the feeling we’d be better off with Stephen Colbert in charge?
Link: Ezra Klein, who opposes the “Constitutional Option” of declaring a federal debt limit unconstitutional, but not because “declaring a federal debt limit unconstitutional” is utterly ridiculous. Klein writes:
Jonathan Chait and David Dayen both think that the breakdown of debt-ceiling negotiations strengthens the case for the Obama administration to attempt the “constitutional option,” in which they simply declare the debt limit unconstitutional and hope the Supreme Court agrees.
It’s the “hope the Supreme Court agrees” part Klein doesn’t like. Too much uncertainty for investors.
Say, how’s Klein feel about the “uncertainty” ObamaCare is causing for investors?