The current national debt ceiling is $12.1 trillion. If raised another $1.8 as has been proposed, we’ll reach an even more ridiculous $13.9. The fun part about this is it puts our national debt less than a trillion away from our GDP, which Google reports at $14.2 trillion.
The House Majority Leader commented about the proposed legislation, saying “We’ve incurred this debt. We have to pay our bills.” Riiiiight. That’s exactly why I, for one, would raise the limit so we can get ever higher debt and ever bigger bills — it makes bill payment so much more likely.Published in