Policymakers should reform the debt ceiling instead of repealing it.
The United States just hit a sad milestone as the gross national debt exceeded $20 trillion. Although that isn’t the best measure of the nation’s debt burden, it is serving a useful purpose by drawing attention to the fact that the debt is at record levels and growing unsustainably.
It’s back-to-school time for families across the country and Congress is back to work on several issues that could affect the country’s bottom line for a very long time. So, this is a good time to take a crash course on the federal budget and national debt.
Washington is bracing for yet another round of debt limit drama. Instead of moving to the brink of disaster, our leaders should dedicate their time and energy to laying the groundwork to fix the debt.
Congress has been dragging its feet on approving government spending for the coming fiscal year, but some decisions will need to be made soon because lawmakers now have less than a month to avoid a government shutdown when the new fiscal year begins on October 1. Here are 6 Things Congress Should Do As It Considers the Federal Budget and Government Spending.
National Debt and You