Recently the BBC reported that both the USA and Denmark have debt ceilings although the Danes have never come close to exceeding theirs and therefore having to raise it unlike America where that has happened multiple times! This is because Congress and the White House can seemingly spend whatever they want while not being limited by the debt ceiling!
Now because we repeatedly exceed this debt ceiling we either have to raise the ceiling to pay off our debt or if don’t raise the ceiling we then run the risk of defaulting. In Denmark they have a lot more fiscal discipline as clearly demonstrated by the fact that their debt to GDP is 33% versus our debt to GDP of 129%. In the end no real comparsion at all!
And that is all I’m going to say about that!
Drain the Cesspool 