Wednesday, April 20, 2011

HOUSE DEMOCRATS insist S&P warning means Congress should raise the debt ceiling, no strings attached.

More than half of House Democrats are seizing on news that Standard and Poor's could downgrade the United States' bond rating to make the argument that Republicans need to raise the debt limit without tying it to additional spending restraint.

"America pays its bills," said Rep. Peter Welch, (D-VT).
I would argue that the fact that the debt ceiling needs to be raised is proof that America does not pay its bills. Hence the need, not for strings, but for high tensile strength steel cables.

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