THE FACTS: Raising the debt ceiling is not the same as a consumer merely making monthly payments on existing debt. It's very much like a consumer getting approved for a higher cap on a credit card. It doesn't mean the consumer will necessarily spend more, but it makes higher spending possible.In the government's case, it has to have a higher credit limit so it can keep borrowing to make necessary payments. Borrowing to pay interest on existing debt as well as the bills is a recipe for deep trouble for consumers. But governments don't â¿¿ and really, can't â¿¿ handle their budgets as typical households do, despite the kitchen-table analogies that politicians in both parties love to make.
FACT CHECK: Slippery Claims On Health Law, Budget
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