9

So-called debt ceiling?

President Barack Obama speaks on the debt ceiling and deficit reduction during a news conference.

This final note today. A last word from the president on the debt ceiling...

"Now the other congressionally-imposed deadline coming up is the so-called debt ceiling, something most Americans hadn't even heard of before two years ago," said President Obama.

Come again? Far be it for me to pick nits with the leader of the free world, but I'm pretty sure it's just called the debt ceiling. Right?

OK. Yes, pet peeve, but come on.

About the author

Kai Ryssdal is the host and senior editor of Marketplace, public radio’s program on business and the economy.
Log in to post9 Comments

LOL @ feetfirst for irregardless. either your sense of ironic humor is levels above everyone else, or you just like the mashing "irrespective" and "regardless" together. Love the show though, my morning routine is to catch last night's podcast followed by the morning report.

Sounds like our leaders are out of "so-called" ways to make money, not excuses to print it, actually make profit.

"So-called" is appropriate here because the debt ceiling is completely unreal.

A debt limit imposed by a creditor is real. If China said they would stop buying our bonds at a certain threshold, that would be a real debt ceiling.

What we have here is like an alcoholic declaring that he'll stop drinking next Christmas. Everyone knows he won't, because he's made the same promise every year since 1960. So his resolution is only a "so-called" resolution.

Kai, I will allow you to pick nits if you allow me to split hairs. It is perfectly fine for you to take umbrage at the phrase "so-called" if its intent was to be disparaging. However, since Merriam-Webster also defines the term as representing something commonly named or popularly termed, then well.......he's got you there. Irregardless, whatever hits the ceiling will surely hit the fan shortly thereafter.

@feetfirst, I like the imagery of all the politic crap slamming into the debt ceiling before dripping down to the proverbial fan. Also, if you intentionally used the widely disparaged term "irregardless" in the same paragraph as quoting Merriam-Webster, then I am humbled by your commentary genius.

Kai, you are picking nits.
First it is not a "dept ceiling" it is a "payment ceiling"
The Government Accountability Office says: "The [debt ceiling] does not control or limit the ability of the federal government to run deficits or incur obligations. Rather, it is a limit on the ability to pay obligations already incurred."
Secondly out of the whole speech to pick "So-called" to complain about is clearly a nit.
Love the Show.

Kai

It's okay to have pet peeves, but I think the debt "ceiling" might be a colloquial reference to an "aggregate limit" on indebtedness.

With Generous Support From...