“The United States just passed a dubious milestone: Government debt surged to an all-time high, passing $14 trillion — $45,300 for every person in the country. That means Congress soon will have to lift the legal debt ceiling to give the almost maxed-out government an even higher credit limit or dramatically cut spending to stay under the current cap.” (Washington Post)
What would Visa say if we raised our own debt ceilings when maxed out?
FEE Timely Classic
“The Evil of Government Debt” by Sheldon Richman