FOR CLARIFICATION ONLY: The "Debt Ceiling" issue is to allow the gov't to pay for money already spent and owed. It DOES NOT allow an increase in spending for the new fiscal year. It's like you're a contractor (construction) and you charged materials and labor and then you are not allowed to go to the bank to borrow the money until you make more/collect receivable or get new work w/ new pricing.
FOR CLARIFICATION ONLY: The "Debt Ceiling" issue is to allow the gov't to pay for money already spent and owed. It DOES NOT allow an increase in spending for the new fiscal year. It's like you're a contractor (construction) and you charged materials and labor and then you are not allowed to go to the bank to borrow the money until you make more/collect receivable or get new work w/ new pricing.
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ReplyDeleteI'm Canadian and live in Canada, but thought this was humorous.
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