Printed letters, January 18, 2013

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Quote from Mr.Crittenden:

“Raising the debt limit merely allows the U.S. Treasury to borrow money to pay for spending”

Hmmm… what kind of financial wisdom is this… isn’t borrowing money just spending money you haven’t made yet? This the crux of the whole problem…robbing from Peter to pay Paul.

I suppose buying a house with a mortgage is also spending money you haven’t made yet. Borrowing isn’t the issue. The problem with Congress is they decide to spend money and then refuse to make enough to afford the payments.



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