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Posted by KidBoy2
No, increasing the debt limit doesn't increase our debt. It's SPENDING more than our revenue that increases debt. In your example the problem is CREATED by spending the extra $20 in the first place. The US debt limit is comparable to the maximum balance you're allowed to carry on that credit card. If you charge more than you pay every month then you're going to hit that limit.
Posted by hburks
So when you only pay $80 you think your debt is more than 100-80=20 (not including interest of course? Increasing the debt limit (a thing that might be unconstitutional as it calls into question the validity of the debt) is simply recognizing we have the debt. Only Regurgitarians of the Reich find the nonsense about having more debt because you recognize the need to pay the debt.
Want to reduce the debt? repeal the REagan tax biveaway and go back to the structure we had when America did Great Things.