One of the pressing spending and budgetary issues that Congress will have to deal with in coming weeks is whether to raise the debt ceiling. Advocates say it is necessary to maintain national creditworthiness. Opponents say it abets fiscally irresponsible policies.
Edited by Robert Schlesinger
Senior fellow at the Brookings Institution and codirector of the Urban-Brookings Tax Policy Center
The debt limit is the maximum amount of debt the federal government can legally issue at a point in time. The current limit will be reached in the next few months, prompting discussion over whether Congress should raise the limit. As with so many deliberations in Washington, though, the popular...
CEO of Heritage Action for America, an activist group associated with the Heritage Foundation
Our nation’s government is built upon a system of checks and balances. Fiscally, it also has alarm bells that go off when our spending is out of control. The debt limit is the loudest such alarm bell. Since the Democrats recaptured Congress in 2006, our debt ceiling has been increased six times...
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