Quote:
Originally Posted by Riot
The debt ceiling limit is a minor housekeeping accounting procedure that allows cash flow to pay our bills. It is not a reference "ceiling" for future spending when budgets are prepared.
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Similar to an individual checking account used to pay household bills and expenses.
If that individual has maxed out his own credit cards/borrowing against his 401K/IRA and is now receiving credit based on his children's future earnings and borrowing money he'll never pay back from his wealthier neighbors.
