Bernanke & Geithner: Seriously Congress, Can We Drop This Debt Ceiling Charade Already? | TheBlaze.com:
"Federal Reserve Chairman Ben Bernanke and outgoing Treasury Secretary Timothy Geithner on Monday urged Congress to agree to an increase in the nation’s debt limit, warning that a failure to do so could be catastrophic. Bernanke took it a step further and even argued in favor of abolishing the debt limit altogether. 'I think it would be a good thing if we didn’t have [the debt ceiling],' Bernanke said during his presentation at the University of Michigan."
If Fed chairman Bernanke thinks it is a good idea to get rid of the debt ceiling for the federal government, why doesn't he urge all the banks and financial institutions in America to eliminate credit limits on all the credit cards that Americans hold? The reason he won't do that is because he knows if that happened, most Americans would go on a wild spending spree until they got themselves so far in debt they could no longer afford to pay the minimum due on their cards.
The only reason Ben Bernanke (and Obama & Co.) want to eliminate the debt ceiling is because they want to continue to spend and borrow until they have destroyed America.
Recommended reading (my post):
Why I Believe in the Conspiratorial Theory of History
