Australia just scrapped its debt ceiling. America should, too.

Debt ceiling fights, it seems, have become a permanent fixture in American politics. Twice in the last couple of years, the United States has been days away from potentially irrevocable economic damage because Congress refused to raise the debt ceiling and let the Treasury issue more debt. The next debt ceiling fight is slated for March 2014.

But isn’t there a better way to increase a borrowing limit — and one that doesn’t freak out markets, investors, and, well, just about everyone every few months?

Read More At TheWeek.com

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One thought on “Australia just scrapped its debt ceiling. America should, too.

  1. Not Raising the debt ceiling will NOT cause irrevocable damage to the US economy. This is nonsense and propaganda.

    Harping on it simply shows acceptance of the foolish belief fostered by the Fed Reserve central bank, that some people choose to broadcast. Usually wide spread media acceptance is the reward for propagating this belief.

    The reality is if the debt ceiling is not raised, America will no longer be forced to borrow from the bloodsucking central bank Fed Reserve any more,, and will have to limit deficit spending, thereby cutting USA expenditures by 40%. Some would say this is a good thing, mostly people who do not depend on government.

    But the NYFed has it sewed up so the media constantly drumbeats this false belief they the end of the world will occur if the ceiling is not raised.. all so the moneylenders can keep their monumental money scam going in the USA and beyond.

    The war of 1812 was fought over this same issue; to keep a foreign owned private bank in charge of US money supply or not.. Back then the US said no,,, and moneylender controlled BOE promptly invaded the US burning our White House to the ground…killing 14,000 US soldiers on prison ships in NY harbor and a host of other crimes as punishment for not “raising our debt ceiling”… Who will invade us today???

    Modernly if the ceiling is not raised, congress would be forced to actually do it’s job; budget expenses to match revenue…cut waste, cut deficit spending, cut subsidies to foreign countries that hate us, cut subsidies to communist inspired radio (NPR) and universities (Berkeley) and we could begin to remove these blood traitor central bank people out of Treasury, out of the Fed Reserve and out of congress.

    Until then, the entire media/election game is rigged, with Fed Reserve and all it’s owners at Goldman Sachs ,, Chase,,, calling the shots in America,, all to protect their banking monopoly……by any means necessary.

    QE2 you say.. that’s a convenient $850,000,000 in fees to the commercial bank owners of the Fed ,, that make 1% commissions of the fiat money the Fed Creates and ‘loans’ to USA each month…

    So dispel the wrong headed notion that raising a ‘debt ceiling’ is a magic answer to US problems. Continued borrowing,,, is,,, the problem…

    And while were at it. The answer is simply to have congress retake control on the USA money supply. Congress can legally coin money and determine it’s value, with out charging the country interest.. Which is why the moneylenders fight so viciously against any change in the current system..which has the largest commercial banks owning stock in and control of the Fed Reserve..

    A change would be messy oh yes,, augmentative yes.. but this is congress’ job. Representatives of the people, controlling the peoples money… US Constitution…

    From 200yearsofcentralbanks.com

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