The debt ceiling limit, prior to this Administration, had never been used as leverage to meet partisan demands. Since Congress appropriates and approves expenditures which are often funded through the issuance of government debt, Congress should NEVER be allowed to withhold payment on such debt, nor even threaten to withhold payment on such US debt obligations.
When Congress approves budgets, it has, de facto, already approved the funding mechanism for such budgets, and should not be permitted to retroactively renege on its commitments.
Such actions not only threaten the creditworthiness of this country, but also risk the financial stability of the world economy.
Therefore, any debt increases required to fund the government should be automatic; no vote of Congress should be required.



