Growing number of Democrats endorse abolishing debt limit altogether

[Yo_Mama_Been_Loggin]

Congress is on the verge of narrowly averting a catastrophic debt default - and some Democrats want it to be for the last time.

The calls for taking the near-annual fight out of lawmakers' hands are coming from prominent voices such as House Budget Committee Chairman John Yarmuth (D-Ky.) and Treasury Secretary Janet Yellen, who want to eliminate the debt limit in its current form.

They argue that members of Congress should not be able to use the threat of a debt default as political leverage ever again - an approach that would respond to GOP stonewalling by playing some hardball of their own.

Although lawmakers are poised to stave off a national default barely a week before the Oct. 18 deadline, when the U.S. is projected to breach the debt ceiling, they'll have to deal with it again in December when the latest short-term extension expires.

-more-

https://www.msn.com/en-us/news/politics/growing-number-of-democrats-endorse-abolishing-debt-limit-altogether/ar-AAPiEHL

[Metaphorical]

1. It's About Time

The debt limit serves no real purpose. A responsible government will work to stay within its budget, an irresponsible one will ignore it. We keep going through these manufactured crises over and over again, always GOP induced, and the GOP then lies to its constituents about how the Dems do nothing but tax and spend, ignoring their own record of simply spending.

[JHB]

2. More like "Growing number of Democrats finally stop deluding themselves about Republicans"

The original purpose of the debt limit was to help organize (and make politically feasible) the extensive issuing of bonds for WW1. Radical Republicans (meaning: the mainstream of them, not outliers) have turned it into a regular exercise in extortion and obstruction, only interested in doing political damage to Democratic administrations and completely ignoring their much-vaunted claim of "fiscal responsibility".

It should have been eliminated ten years ago. What the hell have the holdouts been thinking?

[mitch96]

3. From what I have heard the debt limit was only enacted to appease the isolationists

during WW!.. Yup time to change that law..
m