• “Let Congress Worry” — The Debt Limit Problem Belongs to Congress

    by  • July 21, 2011 • borrowing • 0 Comments

    From the Washington Post, November 11, 1939:

    Secretary Morgenthau is quite right in saying that the question of raising the debt ceiling is something for Congress to worry about. If that body votes to spend money and fails to provide either taxes to cover outlays or authorization to borrow the required sums, the Secretary of the Treasury cannot be blamed if Government bills go unpaid.

    Indeed.

    Leave a Reply