President Obama yesterday, explaining what the debt limit is'and why it must be raised:
The debt ceiling is not a question of authorizing more spending. Raising the debt ceiling does not authorize more spending. It simply allows the country to pay for spending that Congress has already committed to. These are bills that have already been racked up and we need to pay them.I guess the folks at Fox realized his argument was a pretty good one, so they've decided to change the name of the debt limit. Now it's the spending limit:
7:50 AM PT: blue aardvark sums it up:
Or, in other words, Frank Luntz has finished his focus groups
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