Background: A debt ceiling is defined as the maximum borrowing power of a governmental entity. This said, there has been much debate concerning the US debt ceiling. There are diverse of ideas in Congress on how to handle the debt ceiling, and the ideas among the public are even more diverse. With the debt ceiling being such a key issue to the United States, Congress has to solve this issue in the most effective and beneficial manner.
Points of view:
- Congress should raise the debt ceiling to adjust for any new spending necessary under the Obama administration.
- Congress should hold the debt ceiling at its current point.
- Congress should adjust the debt ceiling to a permanent point well above the current limit.
- Congress should send hit men to beat our creditors untill they forgive our debt.