Unlimited Borrowing Pushed by Treasury Secretary: In the past four years, the debt ceiling or limit to the amount that America can borrow from itself and other countries has been raised and raised and raised, while very little effort has been made to curtail spending.
No problem says Treasury Secretary Timothy Geithner, let’s just do away with a debt ceiling, setting no limit to how much the US can borrow.
Al Hurt interviewed Geithner on Political Capital, a program on Bloomberg TV. During that interview, Hurt asked Geithner if we should do away with the debt ceiling and Geithner responded saying:
“Absolutely.”
When Hurt asked him if this was something that he was planning on proposing, Geithner answered with:
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