No Debt Limit, No Default Magnet

In every administration, the government debt limit becomes a threat to the stability of the United States economic system and perhaps the world economy. This artificial limit to government spending is unrelated to the spending approved by Congress and only serves as a means for the party not in power to grandstand for political purposes and try to “take hostages” to demand spending cuts or programs that could not otherwise be enacted into law. Get rid of the debt limit and eliminate the risk of default with all its associated drama.