Geithner and Ryan are at odds over raising the debt ceiling. Ryan wants spending cuts to go along with any increase in the debt ceiling. Geithner does not want cuts and said that if we don’t raise the debt ceiling, we could have a worldwide recession. Did the Republicans lose all their leverage when they passed the budget recently? The debt ceiling has to be raised and that’s a given. Read more here: Bllomberg
And then we have Alan Greenspan proclaiming that there is no need for a debt limit. Sure, that’s true if you want to take away the little notice we have of government overspending and keep the public totally in the dark, why not?