Is the Sky the Limit for the Debt Ceiling? New at Reason

When the national debt ceiling’s suspension was automatically lifted March 15, yet another countdown commenced. Congress will be compelled to raise the government’s borrowing limit again before April 28 and fund the government. Meanwhile, the Congressional Budget Office released yet another report showing that our debt crisis may be here sooner than later and be bigger than ever.

Addressing these budget deadlines should be done with the CBO’s warning in mind. It goes something like this: The government’s overspending has produced a lot of debt, and it’s adding debt at a pace faster than the economy is growing—so it will only get worse, writes Veronique de Rugy.

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