Quote by: David Malpass

The U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It's unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt.

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Author Bio

  • NameDavid Malpass
  • DescriptionAmerican economist
  • BornMarch 8, 1956
  • CountryImmigration To The United States
  • ProfessionEconomist