The ceiling is a limit set by Congress on the amount that the - TopicsExpress

The ceiling is a limit set by Congress on the amount that the government can borrow for public spending and was set at $16.4 trillion in 2011.[2][3] The debt ceiling was technically reached on December 31, 2012, and extraordinary measures were taken by the Treasury Department to enable spending to continue.[4 The REPUBLICAN House established the budget at $1 Trillion more than 2011. Raising the"debt ceiling" means we pay the debt (money we borrowed) because of budget. We need to pay our bill because if the House or The President do not pay the bills we are looking at bankruptcy 23 times size of Lehman Brothers and creating a world recession at least twice as large as 2008!

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