Should the debt ceiling be abolished?

[True Federalist (진정한 연방 주의자)]

And, duh, of course the debt ceiling needs to go.  It has gone from merely (!) an excuse to engage in bad-faith grandstanding, to a fully weaponized tripwire that threatens our economy's very existence.  Abolish it, abolish it now.

Or perhaps we coudl stop running perpetual deficits.  All hitting the debt ceiling would do would be to cause a larger version of the sequester to go into effect, only with Obama having discretion over what gets paid first.

[traininthedistance]

And, duh, of course the debt ceiling needs to go.  It has gone from merely (!) an excuse to engage in bad-faith grandstanding, to a fully weaponized tripwire that threatens our economy's very existence.  Abolish it, abolish it now.

Or perhaps we coudl stop running perpetual deficits.  All hitting the debt ceiling would do would be to cause a larger version of the sequester to go into effect, only with Obama having discretion over what gets paid first.

And that would threaten our economy's existence, too.

[True Federalist (진정한 연방 주의자)]

And, duh, of course the debt ceiling needs to go.  It has gone from merely (!) an excuse to engage in bad-faith grandstanding, to a fully weaponized tripwire that threatens our economy's very existence.  Abolish it, abolish it now.

Or perhaps we could stop running perpetual deficits.  All hitting the debt ceiling would do would be to cause a larger version of the sequester to go into effect, only with Obama having discretion over what gets paid first.

And that would threaten our economy's existence, too.

I'd much rather we stop running deficits because be choose to than because no one wants to lend us more money. Granted, we're still quite some ways from that point, but it will be less painful to do the tax increases and/or spending cuts needed to avoid reaching that point the farther away from that point we do it.

[politicallefty]

Absolutely. I'm not aware of any other country that has one. An increase in the debt limit should be implicit in all spending bills that increase the debt. The national debt is only a problem in terms of its relation to the GDP. Even though I do think we should balance the budget and perhaps bring about surpluses, it must be also be done through increased revenue and without inflicting pain and misery upon the lower and middle classes.

[barfbag]

I don't think we're giving the debt ceiling the respect it deserves. I'd like to see it raised to $16.7 trillion.