On Sunday, Representative Louie Gohmert (R-TX) spoke with a reporter for The Young Turks. The reporter asked “Would you allow us to default on our debt?” and Gohmert replied “No, that would be an impeachable offense by the President.”
Gohmert is half right. Unfortunately for him, it’s not the half he thinks is right. Continue reading
There’s been a lot of talk in the news regarding the current Debt Ceiling negotiations going on, at least here in the United States. I understand that there are a number of people that don’t understand exactly what this is or what it means, so I thought I would explain it.
Like all entities, the United States Government needs money to work. It has to pay people and buy things. Unfortunately, the United States Government usually can’t afford to buy all the things it wants, so it usually must take on some amount of debt. Continue reading