Letter: 'Default' and the debt ceiling

Pearl Kamer of the Long Island Association addresses Pearl Kamer of the Long Island Association addresses a corporate-growth group in Hempstead on Thursday. "If the country defaults on its debt ... it's going to kill our economy," she said. (Jan. 10, 2013) Photo Credit: Howard Schnapp

advertisement | advertise on newsday

Pearl Kamer, chief economist at the Long Island Association business group, told Newsday, "If the country defaults on its debt obligations . . . it's going to kill our economy" ["LI recovery seen at risk," Business, Jan. 11].

I wonder, since you use an ellipsis in the quote, what was left out? Did Kamer actually blame the "debt ceiling" as a reason to default on debt servicing? If so, that makes no sense.

The United States pulls in a lot more money than it pays out to cover debt servicing. The country can't default unless President Barack Obama decides to violate the law.

Dan Martin, Babylon

advertisement | advertise on newsday

Editor's note: The writer is an accountant.

Sign up for the Opinion newsletter and get the latest analysis delivered to your inbox.

Comments

Newsday.com now uses Facebook for our comment boards. Please read our guidelines and connect your Facebook account to comment.

You also may be interested in: