As a soldier, I have a vested interest in Congress either abolishing or raising the debt ceiling. My livelihood and ability to pay my bills depends on whether Congress decides it will pay theirs.8 comments on this story
The debt ceiling does nothing to reduce our debt. Congress implied consent to borrow when the original spending bill was passed. If Congress desires to cut spending, it must do so through the spending bills. It's prosposterous that Congress could pass a law that requires the nation to borrow money — and then create a debt ceiling that somehow allows the nation to go back on its word.
The last time we went through this debate, we saw our credit rating downgraded. Apparently, we have not learned our lesson.