The feds constantly mislead with the claim that if the debt ceiling isn’t raised, the government will grind to a halt and worst of all will default on the debt. That’s like saying that if an over-extended individual with a good income can’t get his maxed-out credit card limits raised then he will suddenly starve to death and be out in the street. The feds have plenty of cash flow, in the form of tax payments, fees, etc. Like the aforementioned individual, they don’t have an income problem, they have a SPENDING problem. And continuing to raise the limit on the federal “credit card” can do nothing but make things even worse. At some point (NOW) it has to stop and the government must be forced to prioritize its spending, which means that many pet programs will have to go away. The debt is now just exploding through an exponential upward spiral. It MUST be stopped, or we will quickly get to the point where the only thing that government can afford is interest payments on the debt.
Exactly, we need to put government on a payment plan.