Yesterday, Obama said, “…raising the debt ceiling, which has been done over a hundred times, does not increase our debt.”
As usual, I think he gets to say this because he’s right on technicality. Raising the debt ceiling itself doesn’t correlate with our debt going up.
But I would hope many hear this as, “raising my credit card limit each time I’m about to max it out doesn’t raise my credit card debt.”
If you want to stop bad behavior, first you have to identify it as such. And then you have to create negative consequences for those who engage in it. So far, our Congress is incapable of either.