“President Obama is now making his case for raising the debt limit. He said raising the debt limit does not increase debt. You know, like raising the speed limit does not increase speed.” – Jay Leno
“There’s a new issue of ‘Cosmopolitan’ that explains Obamacare to women. The article is called ’10 pre-existing conditions to drive your man crazy.'” – Conan O’Brien
“Cory Booker, mayor of Newark, has been tweeting with a stripper in Oregon. He’s a bachelor so when this news broke, he had to hire somebody to stand next to him and look humiliated.” – David Letterman
“The post office wants a three-cent stamp increase to 49 cents. They say fewer and fewer people are using the post office and they’re losing money. See, that’s government thinking. Only the government would think, ‘Hey, I know how to attract more customers. Let’s raise the price.'” – Jay Leno
“The post office just can’t get its act together. They announced today they want to raise the price of stamps so they can make an extra $2 billion. That is still better than their original plan — uninvent the Internet.” – Jimmy Fallon
“Treasury Secretary Jack Lew just sent a letter to Congress, telling them that the government will run out of money on October 17. Congress said, ‘Then why didn’t you just send an email instead of buying those expensive new stamps?'” – Jimmy Fallon
4 Comments
Instead of a debt limit perhaps there should be debt limit percentage. As the US economy continues to get larger the numerical value of the debt will likely continue to increase to maintain growth.
Jonah, great idea.
And not a mention of the poison retirement funding pill that congress forced down the throat of the USPS that makes them unprofitable to the benefit of UPS, FED-EX, DHL, et cetera.
USPS is mandated by the Constitution. And their rates are cheaper.
Regarding the debt, raising the debt limit doesn’t increase the debt, which has already been incurred, but allows the ability to turn the debt over. Like a revolving charge account.
Some of the current debt is on a time limit and must be repaid. The debt is already there, and so are the other commitments. What Congress has not done is to FUND its debt, which can be done three ways: 1) Borrow more money (the revolving charge), 2) raise more money (in the form of taxes) or 3) print more money (causing inflation). The fourth choice, of course is simply to refuse to pay.