Should America Eliminate the Debt Limit?

Surely Timothy Geithner didn't mean it when he recently said that there should be no legal limit on the mount of debt the Treasury can issue?

While it is true that the debt ceiling has become overly politicized in recent years, it doesn't seem like the remedy for that cold should be the elimination of the ceiling entirely.

To do so would be akin to fighting the flu with couples counseling...

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