Debt Ceiling and LO FOs

I'm a LO FO. Much as I don't like to say that, I am. I read and read, but still don't know all about everything. LO FO = low information voter.

We are (all) busy with our lives, especially now. We can't do all we wish to do. So, here's a bit of information:

What is the debt ceiling? It's the government's Credit Card Limit. We yelled, "Stop Spending!" Government got a higher credit card limit. Here we are, again, because Government spent to the limit, again. If we raise the ceiling (raise the limit) they will soar right up to it.

The time to stop was several limits ago.

When we are threatened with chaos if we don't raise the limit, just say, "NO."
The "sky will fall?" Nope. We take in $225 Billion a month. The interest on the debt is about $17B. We have the money; we will pay the bill.

MOODY'S:

http://www.washingtonpost.com/blogs/post-politics-live/liveblog/live-updates-the-shutdown-4/#c1e3ada3-dc00-41d8-92cb-327c5c814d82

Quote

Not so, Moody’s says in the memo dated Oct. 7.

” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.

The memo offers a starkly different view of the consequences of congressional inaction on the debt limit than is held by the White House, many policymakers and other financial analysts. During a press conference at the White House Tuesday, Obama said missing the Oct. 17 deadline would invite “economic chaos.”

When you have a wild spender, you don't let him borrow more money *in your name* to feed his addiction.