The "debt ceiling" is an fiscal fiction... It should be abolished because its useless...
Nations don't have arbitrary credit limits...the limit is what the market will pay for their bonds...not some nonsensical "ceiling"...
Italy can finance its debt...it merely pays 7% to do it...which is about right for Italy...
Cut the US WAR AND WEAPONS BUDGET...and everything will be paid for ... with lots left over...for a surplus.
I am hoping the sequester happens...its the ONLY WAY we will ever get the Pentagon off the backs of the taxpayers...!
UNLIKE SOCIAL SECURITY WHICH IS FUNDED BY WORKERS MAKING UNDER $120,000 PER YEAR...
THE WAR AND WEAPONS BUDGET IS UNFUNDED AND COMES RIGHT OUT OF GENERAL INCOME TAXES...!!
