Moody's, a ratings agency, is suggesting that the U.S. eliminate its debt limit altogether.  In fact, some countries do not set a debt limit.  But Rep. Randy Neugebauer doesn’t like Moody’s proposal.

“The problem that we have here is that there’s really [been] no inner constraints built in during the past years to spending.  You can either raise taxes or borrow the money,” Neugebauer said on KFYO.

“Where we are today is that our debt is getting to the level where in just a few years just the interest alone on our debt will be a trillion dollars a year.  I’m perplexed by them coming out and saying something like that.”

Neugebauer said the Moody’s proposal doesn’t make sense.