Discredited

“They’re really putting our whole society at risk by threatening to round up 50 percent of the members of the Congress, who are loony, who would put our credit at risk.”

But hang on, generally speaking, when you hit your “debt ceiling,” your credit is at risk. If you’ve got a $10,000 credit card, and you run it up to the limit, but you need a couple more grand right now, pronto, because you outspend your earnings by 50 percent every month and you have no plans to change that anytime soon, well, the bank might increase the limit to $15,000, or $20,000. Or they might not. There is a question mark over your credit because there is a question mark over your credit worthiness: It is at risk.

via Discredited – Mark Steyn – National Review Online.

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