Not for the folks currently running our federal government. Nope. Treasury Secretary Timothy Geithner sent a letter to Congress asking for an unspecified increase in the current government debt limit of $12.1 trillion. (Link to story here.)
"It is critically important," Geithner wrote, "that Congress act before the limit is reached [in about two months] so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations."
Actually Geithner is right. Congress should act now - but not by authorizing the Treasury to borrow more money. It is time to slice and dice every ounce of wasteful spending from the budget. And time that Washington learns to live within its means.
Enough already! Stop spending what you/we don't have!