The White House has come out with a statement saying that the GOP is holding the economy hostage. As if raising the debt ceiling to allow the government to borrow and spend even more money aka throwing good money after bad will actually help to improve the economy. I don’t know how many times I’ve said it, economists have said it, and history has PROVED it, government spending always, always has a detrimental medium to long term effect on the economy. It’s been proven beyond a shadow of a doubt that the depression would not have been as bad and lasted as long had Roosevelt not spent like mad. The same goes for our times and the last 10 plus years, raising the debt ceiling and allowing the government to spend us to death will not revive the economy. Government spending KILLS an economy, more spending cannot resurrect it.