I’m sick and tired of hearing this lie peddled by the GOP and corporate media. Raising the debt ceiling does not increase spending or the federal debt. It simply allows the government to pay bills it has already taken on— and defaulting on the debt would be catastrophic.
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Well that's not true.
The Treasury has enough money flowing in throughout the year to cover bills it's already taken on regardless of the debt ceiling.
Politicians (and corporate media) do try to confuse that by misleading people into thinking the bills are all taken on the moment an appropriations bill is signed, though.
That misconception needs to be corrected, as the federal government takes on bills throughout the year.
