The debt ceiling

 Looks like the GOP is once again threatening to vote against raising the debt ceiling, since the president is a Democrat. The national debt only matters with Democratic presidents, doncha know. But ultimately, this is just political posturing and both parties know it.

From a comment over at Angrybear blog:

"If the US defaults on its sovereign debt, then that would end the dollar’s exorbitant privilege causing the dollar’s foreign exchange rate to plummet and eliminating trade deficits along with most of the US economy. Republican’s threat to default is only a negotiating tactic like extortion. A dead hostage cannot be ransomed."

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