States government by the United States government.

大殺傷力武器。

Confused? Then it's time for The United States debt limit Explained.

不明白？ 馬上為你呈獻 《淺談美國債務上限》

To understand the debt limit you need to know the US splits financial responsibility between

要解釋債務上限之前，要先說美國的財政責任是落在

the president and congress.

總統和國會兩者的頭上。

The president has two jobs when it comes to money:

說到錢，總統有兩件工作要做：

1. Collect taxes and... 2. Spend those taxes to run the government.

1. 徵稅…和 2. 把它花在政府開支上

This might give you the impression that the president, with regards to money, is all-powerful.

這樣聽起來總統幾乎是萬能…最少在錢這方面

Especially when you hear news reports on 'the president's new budget' or his plan to 'raise

尤其是當你聽到新聞提及 「總統的財政預算」又或

taxes on haberdashers' or 'lower taxes on apiarists'.

「總統打算提高 縫紉用品商稅率」又或 「給讓蜂業提供稅務優惠」的時候

But reality is just the opposite and the president is the one who takes orders.

但事實上則剛好相反。 總統只是聽命令行事。

From whom?

聽誰？

Congress.

國會。

Congress has the jobs of setting the tax level and determining how much the government will

國務的工作是 1. 設定稅率 2. 編寫財政預算從而決定政府要花多少錢

spend by writing a budget.

所以即使總統時不時會向國會提出財政預算案， 又或請求

So while the president does get to submit budgets to congress, and asks for changes

改變稅率等等，但這些 國會統統都可以不用理由。

in the tax level, these are just requests that congress doesn't have to pay attention

國會可以隨心所欲地修改總統所提出的預算案

to.

又或直接砍掉重寫。 至於稅率也是這樣。

Congress can add or subtract anything they want from the president's budget or throw

那麼國會可以要求有 - 大橋、 坦克、新建築、法院、機械人（火星上的）、

it out entirely and write a new one. The same goes for the level of taxes.

機械人（地球上的 [圖為軍事無人飛機]）、 國家公園、等等…然後通過這樣的財政預案。

So congress decides what it wants: bridges, tanks, buildings, courts, robots on Mars,

一旦通過，總統就有法律上的義務去 按照國會的預案去花錢，

robots on Earth, National Parks, whatever and approves a budget with that stuff in it.

並用國會制定的稅收去支付這些開支。

Once approved the president's is required by law to spend the money Congress listed

只要收入大於支出 那就萬事大吉

in the budget and pay for it using the taxes that congress set.

但事實哪有這簡單？國會每份 預算案都是超過稅收所能支付的。

As long as more taxes come in than spending goes out everything is fine.

即是說總統必須去借貸 來抵銷這一個財政缺口。

But, almost always, Congress puts more stuff in the budget than they cover with taxes which

在大部份國家，故事到這裏就完了。 因為若她們的法律機構通過了

means the president must borrow money to cover the difference.

赤字預算，亦即同時默認批准了所需要的借貸。

In most countries the story ends here because if their legislatures approved more spending

但美國不是這樣。這裏，國會<b>同時</b> 為美國的總債務設了一個上限。

than they have income, they've also implicitly approved the necessary borrowing -- but not

債務上限聽起來是個很好的主意， 直到你看見因它引起了總統和國會間糾纏

in America. Here Congress *also* limits the total amount of debt the United States can

而帶來的嚴重後果…

have.

當借貸總額逐漸逼近上限， 國會通常都會指罵總統，

A debt limit sounds like a good idea until you see the real-world consequences of these

並<b>驚訝地</b>表示「看這個大花筒總統 都把我們都帶到去…

two branches of government interacting.

我們國會之前理性和精明地設定的債務上限」

As the total amount borrowed gets closer to the limit, Congress usually points to the

雖然技術上來說是總統 去借錢，骨子裏卻是

president and acts shocked, *shocked* that his reckless spending has brought us so close

國會自行通過預政預算案， 總統因應法律要求而去花錢，

to the debt limit that they, reasonable, prudent Congress have set.

同時又不提高足夠的稅收以 抵銷政府支，所以才要借。

And while it's technically correct that the president has borrowed this money, congress

所以債務上限說穿了，就是 公園裏小孩「别再打自己了！」的政府版本，

has forced him to do it, by approving a budget that the president is legally obligated to

除了每次還讓大家都看得冒冷汗。

spend without also approving the necessary taxes to cover that spending.

特别一提，債務上限並不是關於 未來的花銷，它不像

So the debt limit fight is essentially the government version of the playground favorite:

信用卡提高信用額度一樣， 使政府可以用來開派對…

'stop hitting yourself' except with added terror for everyone watching.

債務上限是關於要付清 已經發生了的賬目。

For, it's important to note, the debt limit is not about future spending -- it's not a

舉例說，政府請了一家公司去 修建高速公路，但若美國

credit card on which the limit will be raised so a crazy government party can be thrown

已經到了債務上限的話，當建築公司 要求政府支付修路費的時候，

-- the debt limit is about paying bills already incurred.

政府就付不了。這樣會動搖了美國的 信用，有鑑於全球經濟

For example, the government hires a company to repave a federal highway. But if the US

都建基於美元是可靠有信用 的這一點上，這信譽萬萬不能動。

is at the debt limit, when the company asks to be paid after the work has been done, the

而這是有解決方案的：國會 可以提高債務上限，而因為

government can't. This shakes trust in the US and since large parts of the global economy

上述的信譽問題，她們每次都這樣做。

depend on the dollar being trust worthy, messing with that trust is a big deal.

所以，若然不提高債務上限是這麼危險， 而解決方案又是這麼簡單，

But there is a way out: Congress can raise the debt limit and, because of the aforementioned

緊接下來的問題必然是… <b>為什麼每次都要擾攘幾個月？</b>

terror, they always have.

因為：政治。

So… if not raising the debt ceiling is potentially disastrous and the solution is simple and

債務上限並不存在於憲法裏， 而只是國會自己搞出來的產物。

always taken in the end: *why does this debate last months‽*

而且她們覺得這個非常之棒，因為：

Because: politics.

1. 它製造了一個問題 2. 而這讓國有借口去

The debt limit isn't in the constitution, congress created it themselves and from their

責罵總統，同時 3. 他又很需要這個只能由國會提供的解決方案

point of view, the debt limit is awesome because:

國會已實於利用這個財務上玉石俱焚 的難題，作為談判桌上的

1. It creates a problem that 2. Congress can (technically) blame on the

籌碼…直到在最後…一秒鐘…才把法案通過。

president who 3. Needs the solution that only they can provide

Congress gets to use the threat of mutual financial self destruction as leverage in

negations that they benefit from extending until the last… possible… second.