Lew: In Congress, battles over the debt limit are frequently cast as a fight against government spending. But, as Lew points out when the time comes to borrow money to pay federal obligations, the question of how much money the government is going to spend has already been settled, by Congress itself.
He goes on the usual rant that Congress would do what? Exactly? Congress computes spending, including projected interest payments, and passes the bill. What is Lew's point exactly?
He wants Congress to negotiate a lot of details which raise the cost of business enormously, but it allows smooth transitions in debt. In other words, Congress should run each line of business on a profit and loss basis, is what Lew implies.
No, use the current system. Have the banksters and Senators make the hone calls, see how much money you can scrape up. The debt limit allows the Senate to operate on autopilot, while the insiders handle the big number.
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