Debt Ceiling

The debt ceiling debate is a huge problem in America right now, because due to  the government spending too much within the last few years our country is in a huge crisis. A debt ceiling is how much our country can spend on public funding; in 2011 this ceiling was set at $16.4 trillion.  Not even two years later, at the end of December this ceiling was met but measures were taken and the debt ceiling was raised. Throughout the last few years the debt ceiling has been reached yet again and has been raised, again. The problem with this is that not only is America getting into more and more debt, the credit rating of America is being threatened and due to this we could be downgraded from AAA. Also, now the huge crisis is that he government is “shutting down” meaning that they are cutting spending on some services. On the other hand, it is said that if measures were not taken to increase the debt ceiling there would be delays on things such as benefits and government salaries which would lead to a default on government debt. I believe that we should once more raise the debt ceiling but also collect some more taxes, if people want the services that will be taken away if the debt ceiling crisis is not resolved then they should be fine with spending a little more on taxes.  I feel as though “the government shutting down” is not the answer, the sound of that just makes Americans more worried and more angry towards the government, although raising the ceiling will put us in more debt it will save the country from the current crisis that it has found itself in right now.

References

Aaron, H. (2013, September 29). Our Outaw President?. The New York Times. Retrieved September 30, 2013, from http://www.nytimes.com/2013/09/30/opinion/obama-should-ignore-the-debt-ceiling.html?_r=0

United States debt-ceiling debate of 2013 – Wikipedia, the free encyclopedia. (n.d.). Wikipedia, the free encyclopedia. Retrieved September 30, 2013, from http://en.wikipedia.org/wiki/United_States_debt-ceiling_debate_of_2013

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