Monday, July 18, 2011

Moody's: Eliminate Debt Ceiling

Here's the confirmation I was looking for that the U.S. is one of only a few countries which has a law establishing a debt ceiling.

Galbraith, as seen in my post yesterday, provided the history of how and why it happened here. The law is not essential, and as Moody's says, it causes periodic problems, like panic, in the financial markets.Link


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