Modbert
Daydream Believer
- Sep 2, 2008
- 33,178
- 3,055
- 48
Yes, the DC is for what has already been spent. But spending needs to be macheted NOW so in six months (or whenever) we don't need to raise the DC again.
We can just raise the debt ceiling through 2012 and have Congress get something done before the election. If they don't, the voters can speak of their displeasure about that. There is no point in cutting spending if we're not going to raise the debt ceiling and just drive the economy off the cliff in the process.
Edit: To clarify, I'm not saying we shouldn't cut spending. I'm simply saying that if you want to cut spending in order to not lose our credit rating then you also need to raise the debt ceiling. Otherwise our credit rating is going to suffer anyway.