Six in ten of us believe default will cause an economic crisis, but only 30% support raising the debt limit.
Caving on the debt limit in 2011 was the political low point of his presidency.
That puts us right up against the current debt limit of $16.394 trillion.
And fearing a primary challenge in Kentucky, McConnell is back to preaching the GOP gospel of reaction on the debt limit.
A vote to raise the debt limit will not give the president or Congress the ability to spend any new money whatsoever.
A vote to raise the debt limit will not grow our deficit by a single dime.
In short, our current war over government funding and the debt limit is raising interest rates – and the costs could be huge.
We could have a state constitution, too, which would extend the debt limit so that we could issue a whole lot more bonds.
Its debt limit is 2% on the assessed valuation, and even that low maximum is not often reached.
The debt limit is usually a certain percentage of the assessed valuation of the taxable property within the city.