Currently, debt ceiling exists to allow the government to borrow an X amount of money that is then used to honor pre-existing obligations. However, this concept seems to be largely divorced from setting and passing budgets which is a canvass that represents a collection of decisions by current and previous presidents and congresses. This resembles putting carriage in front of a horse. Seems to be like there are 2 logical solutions. 1) Eliminate the concept of debt ceiling all together since budgets are currently passed irrespective of it or alternatively 2) Pass a law that requires that collective spending cannot surpass the debt ceiling that exists at the time that the spending proposal is being deliberated. Our current debt ceiling system is completely nonsensical and is very susceptible to political extortion and rigmarole.
Currently, debt ceiling exists to allow the government to borrow an X amount of money that is then used to honor pre-existing obligations. However, this concept seems to be largely divorced from setting and passing budgets which is a canvass that represents a collection of decisions by current and previous presidents and congresses. This resembles putting carriage in front of a horse. Seems to be like there are 2 logical solutions. 1) Eliminate the concept of debt ceiling all together since budgets are currently passed irrespective of it or alternatively 2) Pass a law that requires that collective spending cannot surpass the debt ceiling that exists at the time that the spending proposal is being deliberated. Our current debt ceiling system is completely nonsensical and is very susceptible to political extortion and rigmarole.