It's time to get rid of the debt ceiling for good, and Congress can do it with a simple majority vote. Tell them to do it NOW.
The debt limit authorizes borrowing for debt already incurred. Refusing to raise it doesn't mean you're cutting spending, it means you're not paying the bills you already owe. And if we don't raise it, it will send the US into default, dramatically raise the interest rates the government needs to pay on debt, and almost certainly send the economy into a deep recession.
And yet, we keep on going through this self-inflicted stupidity over and over again, with Republicans refusing to raise the limit, and pretending it makes them defenders of fiscal sensibility.
Not raising the debt limit is like not paying the credit card bill you ran up. If you want to avoid the debt, don't spend the money in the first place.
It's time to get rid of this craziness forever. Tell Congress to get rid of the debt ceiling for good.
