A Debt Ceiling Petition

After the near disasters in 2011 and earlier this month I've come to believe that the only way to avoid this kind of idiocy is to take away the political toy that is the debt ceiling. No political party should be able to threaten the economy of the nation for an instant whether it's to extort concessions from their opponents or to "make a point". We don't have to default to create potential economic problems and it should just not come up. I was surprised to find on the We the People site at whitehouse.gov that no one had yet thought of this but they hadn't so I created a petition on the site that reads as follows:

WE PETITION THE OBAMA ADMINISTRATION TO: work with Congress to eliminate the debt ceiling Since the budgetary processes that have been in place since 1974 serve the same purposes as those originally envisioned by the legislators who wrote the 2nd Liberty Bond law in 1917 and also those of the members of Congress who modified it in 1939 to cover all general debt of the United States government the law should be eliminated or superseded by new legislation that would provide long term stability to purchasers of debt of the United States government. The law currently seems suitable only as a political Sword of Damocles that both political parties have used with varying degrees of responsibility. Since that level of responsibility has noticeably decreased in recent history no political party should have this "weapon" available any longer so it should be removed.

If you're interested in signing it the link is here. Cross posted at The Moderate Voice