If one thing became clear during this most recent default crisis it's this -- the debt ceiling serves no useful purpose and should be abolished.
While votes to raise the debt ceiling have traditionally been opportunities for members of Congress to grandstand, the severe consequences of not raising the debt ceiling have until recently served to ensure it was increases as a routine matter -- including seven times under George W. Bush.
But this year extremist Republicans--many of whom voted for the tax giveaways to the wealthiest Americans and the unfunded wars that caused our the government deficit to explode--were able to use the threat of a government default to hold the entire American economy hostage to their radical demands. And their success only ensures they'll do it again next time.
Tell Congress: It's time to ditch the debt ceiling.
The debt ceiling artificially prohibits the government from issuing new debt to pay the bills that are already due based upon previous budgets duly approved by Congress. If Congress wants to reduce spending there's a process to do so -- it's called the budget process. The debt ceiling serves no useful purpose and should be abolished.
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