Unlimited Debt Leads to National Bankruptcy

Source: Future of Freedom Foundation
by Jacob G Hornberger

“During the current debt-ceiling crisis, one thing should be painfully clear to everyone: For those people who are advocating an increase in the debt ceiling, there is no maximum amount of debt that is too much for them. As far as they are concerned, the federal government should continue adding to its debt burden indefinitely into the future, no matter how high the debt becomes. How do we know this? Because they never tell us what their particular debt maximum is. Every time the new debt ceiling is reached, they pound us with all sorts of dire things that will result from a ‘default.’ But once they succeed in raising the debt ceiling, it’s always back to business as usual, with massive spending exceeding tax revenues, which means more borrowing and more debt.” (05/18/23)