This bad Shakespearean Play is framed as The Sky Is The Ceiling vs. I Want Everyone To Bend Over When They Walk In My Bank, or "the low ceiling vs. the high ceiling."
This discussion is condescending as usual in the sense that it seems to be directed toward those who neither understand debt or its function in a society.
Are they talking to themselves again?
The function of debt, or financing, or borrowing, is to invoke servitude.
Good servitude or bad servitude, but servitude non-the-less.
James Baker was on a talking spin head program this weekend telling the moderator that "we" are broke, the "we" being the 98% of the nation, not the 2% he comes from.
That is another way of saying "you" (98%) have to borrow some more money from "us" (the rich 2%) and say we got it from "China".
The ancient copy of Proverbs, scattered amongst the Dead Sea Scrolls, has a saying that translates into American English as "The rich rules over the poor, and the borrower is servant to the lender."
Holy servitude bat man.
Judiasm, Islam, and Christianity all include Proverbs in their list of holy books, and the high priests of capitalism for the most part think that is the only commandment, so they
The American Dream is about limiting the greed of the rich that are ruling over the poorer than them, so the poor can dream about MOMCOM freedom, since that is the only freedom on the table, all the while calling it something else:
With doublespeak, banks don't have "bad loans" or "bad debts"; they have "nonperforming assets" or "nonperforming credits" which are "rolled over" or "rescheduled." Corporations never lose money; they just experience "negative cash flow," "deficit enhancement," "net profit revenue deficiencies," or "negative contributions to profits."(Etiology of Social Dementia). When "the ruled-over" get all rogue and mavericky to think about other types of freedom, wars break out, star spangled banners propagate like flies, bombs burst in air, and patronizing patriotic speeches of rhetoric flood the airwaves.
The debt ceiling is seen, in this context, as the populace loosing a bit more freedom, but MOMCOM assures us more freedom is budgeted to be available next quarter.
In the old world of balanced budgets, debt is managed:
A major goal of governmental financial reporting is assessing financial performance, that is, how well the government is doing with the money entrusted to it. From the standpoint of making judgments about the performance of government funds and government finance, the financial reports are a good place to start. These reports can provide a considerable amount of the information for gauging financial compliance, success, and health. Governmental and nonprofit accounting both use the concept of fund accounting. In fund accounting, the entity is divided into subsets or “funds” each with its own self-balancing set of accounts.(Debt Service Funds). The academicians present a system whereby debt is managed in a responsible way, indicating that debt is not the same as insolvency.
Meanwhile the wild-eyed self-righties bloviate the opposite in the ongoing harangues-without-ceilings masking as adult debates.
They forget that we all know that insolvency happens only when the debt service requirements can no longer be met by the stream of incoming "money" (wages, salaries, retirement funds for we working people, our tax dollars for the government).
The plunder barons of MOMCOM are sooooo good that they destroyed our economy, are sooooo good that they bailed themselves out with our money, and are soooo good that they need to argue in front of us about how they are going to do business as usual, but will call it something else as usual.