Rochester
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Tue May-17-11 12:01 AM
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This may be a dumb question, but maybe someone can enlighten me.
If the limit is not raised, can the government postpone default indefinitely by printing more money and using it to pay the bills?
I'm aware that it's probably not a prudent course of action; at the end of that road lies '20s Germany. But is it legal?
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girl gone mad
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Tue May-17-11 12:17 AM
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1. This would require congressional action.. |
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Edited on Tue May-17-11 12:18 AM by girl gone mad
but it would be fiscally prudent. No, it would not lead directly to hyperinflation.
It's Congress's fault that we are forced to borrow our own sovereign currency, and the debt ceiling is an artificial constraint.
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DU
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Tue May 07th 2024, 02:00 PM
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