SUMMER FUN
California friends said "Florida in July?!"
We told them we'll survive just fine.
A visit with our eldest and a family wedding
brings us to the other west coast, along
the beautiful Gulf of Mexico.
This is where summer fun means the beach.
The gulf also provides a canvass of relaxing scenes.
And as you can note, changing cloudscapes.
the central coast. Stay tuned.
AS THE DEBT CEILING DEBATE CONTINUES
AS THE DEBT CEILING DEBATE CONTINUES
Here's an interesting perspective from
James Surowiecki in the New Yorker
The truth is that the United States doesn’t need, and shouldn’t have, a debt ceiling. Every other democratic country, with the exception of Denmark, does fine without one. There’s no debt limit in the Constitution. And, if Congress really wants to hold down government debt, it already has a way to do so that doesn’t risk economic chaos—namely, the annual budgeting process. The only reason we need to lift the debt ceiling, after all, is to pay for spending that Congress has already authorized. If the debt ceiling isn’t raised, we’ll face an absurd scenario in which Congress will have ordered the President to execute two laws that are flatly at odds with each other. If he obeys the debt ceiling, he cannot spend the money that Congress has told him to spend, which is why most government functions will be shut down. Yet if he spends the money as Congress has authorized him to he’ll end up violating the debt ceiling.
Interesting eh?
You can read more of an illuminating article
in the August 2 New Yorker.
See you down the trail.
James Surowiecki in the New Yorker
The truth is that the United States doesn’t need, and shouldn’t have, a debt ceiling. Every other democratic country, with the exception of Denmark, does fine without one. There’s no debt limit in the Constitution. And, if Congress really wants to hold down government debt, it already has a way to do so that doesn’t risk economic chaos—namely, the annual budgeting process. The only reason we need to lift the debt ceiling, after all, is to pay for spending that Congress has already authorized. If the debt ceiling isn’t raised, we’ll face an absurd scenario in which Congress will have ordered the President to execute two laws that are flatly at odds with each other. If he obeys the debt ceiling, he cannot spend the money that Congress has told him to spend, which is why most government functions will be shut down. Yet if he spends the money as Congress has authorized him to he’ll end up violating the debt ceiling.
Interesting eh?
You can read more of an illuminating article
in the August 2 New Yorker.
See you down the trail.
