democracyarsenal.org European Tribune - Community, Politics & Progress. The Daily Dish | By Andrew Sullivan Hullabaloo Don't Believe The Scary Words You Hear About The Debt Ceiling | Capital Gains and Games Posted by Stan Collender Much of what being said about what happens if the federal debt ceiling isn’t raised immediately when the current borrowing limits is reached is just wrong. My column in this week’s Roll Call tries to correct the misinformation, misunderstanding, and...well...lies. Don’t Believe What’s Said About Debt Ceiling There is so much misinformation and grossly misleading talk about what will happen if the federal debt ceiling isn’t increased that, before any more unnecessary bloodcurdling language is used that increases everyone’s anxiety, it’s worth taking a few steps back from the edge. First, not raising the current federal debt limit absolutely will not immediately shut down the federal government. Government shutdowns occur when the appropriation that funds a department or agency isn’t enacted. Second, and again contrary to what some have stated as gospel, reaching the debt ceiling will not automatically lead to a federal default on the nation’s existing debt.
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