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: post by ShadowSD at 2011-07-27 18:15:52
Congress really messed things up with this. Every idiot politician who said raising the debt limit isn't necessary or wouldn't have consequences if we waited looks like a complete tool, as the consequences begin to trickle though in various ways like this.

I honestly can't believe anyone in this country fell for the line that raising the debt limit to cover money already spent is the problem - because in real life, if I go to a business and use a service, I can't tell them that despite the fact that I owe them the money, I've decided I don't feel comfortable being in any more debt right now than I already am so it doesn't count. That's insanity, and it's what a lot of Congress thinks we can do as a country: tell our creditors hey we spent your money but we don't owe you because we don't want to be in that much debt. Nobody trusts a deadbeat with good interest rates, and that includes a deadbeat country if that's what we become.
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