Don’t Lift the Debt Ceiling

by Jacob G. Hornberger October 10, 2013

Why is there even a debt ceiling? The reason is simple: Because even the members of Congress, who are the biggest spenders in the world, understand that too much government debt is a bad thing. That’s the message conveyed by the ceiling: It says that this is the maximum amount of debt that the government is permitted to accumulate. Once that amount of debt is accumulated, no more debt can be incurred.

http://fff.org/2013/10/10/dont-lift-the-debt-ceiling/