The purpose of a Debt Ceiling is to put a limit on the amount of Money that can be spent. Every adult understands that you can’t spend more than you can earn. You can extend that amount through borrowing, but none of us can get more in credit than we can ever earn.
The US reached that point 3 years ago. It actually reached it 5 decades ago under LBJ with his “Great Society” but it took the election of the Dictator Barry Soetoro to drive the last nails into the coffin.
The fiscal cliff is a joke. Since 1974 not one government budget has ever been cut a single penny. Every year the Government Spending Budget has increased 5-10 percent through baseline budgeting. It is written that way in law and that is one of the Laws that the Congress NEVER violates.
We are currently engaged in a Kabuki Theater Dance over “The Fiscal Cliff” The President wants 1.6 Trillion in new taxes and no “cuts” in anything. He has ordered the continual printing of money, the Republican House Leadership will give him what he wants.
The only tool that the Conservative members of the house have to maintain any semblance of fiscal responsibility is through the debt ceiling. The Republican Leadership does NOT have the votes to raise that debt ceiling. Threatened with that fact President Barry Declares to act as King and take that authority unto himself.
It’s not a game Barry, and you have no authority over it.