A Higher Debt Ceiling Won't Solve The Problem; It Will Make The Problem Worse

 In January, the US government ran up against the debt ceiling, kicking off another fake debt ceiling fight.

Peter Schiff talked about it in his podcast, saying the lack of a higher debt ceiling isn't the problem; the ever-increasing spending and the debt are the problems.

"We must raise the debt ceiling because we pay our bills!" Peter said it's the exact opposite.

Peter said the debt ceiling is actually the solution to the problem.

"The problem is the debt. The problem is that Congress and the president keep running up more and more debt and every time we get to the ceiling, we either raise it or suspend it. The problem is that we keep raising the ceiling, not that we won't raise it. In fact, the threat is that we raise it again."

"It's only a question of time. It's not a question of if. It's just a question of when. We will default on our debt. All the bad stuff that they're saying is going to happen if we don't raise the debt ceiling is guaranteed to happen because we do raise the debt ceiling."

Peter went on to put the debt into a broader perspective and gave an overview of the history of the debt ceiling.

https://schiffgold.com/peters-podcast/peter-schiff-a-higher-debt-ceiling-wont-solve-the-problem-it-will-make-the-problem-worse/