Just because the U.S. government has made a mockery of the term “debt ceiling” by raising it 90+ times, doesn’t mean that a debt ceiling doesn’t exist. A limit to debt certainly exists and judging by its actions, the government is determined to finally reach it. In practice, it’s not the U.S. government that will ultimately determine what the debt limit will be. The market is always more powerful than the state, and nations across the world are divesting themselves of dollars and using other currencies at an increasing pace. The U.S. government must halt its reckless spending. The consequences of continuing down it’s current path must lead to a very severe economic crisis.
The Ron Paul Institute for Peace and Prosperity is a project of Dr. Paul’s Foundation for Rational Economics and Education (F.R.E.E.), founded in the 1970s as an educational organization. The Institute continues and expands Dr. Paul’s lifetime of public advocacy for a peaceful foreign policy and the protection of civil liberties at home. Visit http://www.ronpaulinstitute.org