Koch Bros Playing Chicken with Debt Ceiling Debate by AL MARTIN (AL MARTIN RAW.COM)
(10-8-13) It hasn't even been verified if the Koch Brothers are selling everything short -- but could so-called "technical default" of US Treasury Bonds on October 17 be the end of USA, Inc.?
The debt ceiling increase was never a "problem" until the formation of the Tea Party. It was always a perfunctory vote to raise the debt ceiling and it's only since 2010 that it has become a political football.
Without an increase in the debt ceiling when you are running budget deficits -- as we are now and indeed have been doing continuously since the George Bush Jr. Regime -- you have to increase the debt ceiling every year to sell more debt in order to raise the money to service the debt which you sold the previous year.
Now this is a necessity because when a political regime makes a decision like the Bush II Regime made to draw down all of the surpluses that it inherited in the first year then begin to run budget deficits, those budget deficits have to be financed.
This isn't just for interest payments on the Bonds you already issued.