This will fix everything!
Dem lawmaker looks to kill the debt limit
By Peter Schroeder
-
08/10/11 03:39 PM ET
Rep. Jerrold Nadler (D-N.Y.) wants to do away with the debt limit, and will introduce a bill to do just that.
Calling
the debt limit "truly arbitrary” while blasting Republicans for playing
a "dangerous game of chicken” with it, the liberal congressman said
Wednesday he was drafting a bill to eliminate it.
"Let us abolish the debt ceiling, which has become a serious threat to
our economic future and a pawn for Republicans intent on holding the
economy hostage to impose their own extreme agenda,” he said in a
statement.
Nadler also set his sights on credit-rating agency
Standard & Poor’s, which last Friday issued the first ever downgrade
of the nation’s once-sterling credit rating, setting off a tumultuous
few days for financial markets.