What does raising the debt ceiling mean? Can I call my credit card company and raise my debt ceiling?
Monday, June 13th, 2011Spaced Frehley asked:
By raisilng the “debt ceiling” is that the same as saying “we’re not in debt’ until we reach X amount of debt? What does China and the other countries think of America raising the “debt ceiling”? Is raising the “debt ceiling” a way of putting off the American debt until the next Presidential election? Bush raised the “debt ceiling 7-8 times” and we still inherited a huge debt.
By raisilng the “debt ceiling” is that the same as saying “we’re not in debt’ until we reach X amount of debt? What does China and the other countries think of America raising the “debt ceiling”? Is raising the “debt ceiling” a way of putting off the American debt until the next Presidential election? Bush raised the “debt ceiling 7-8 times” and we still inherited a huge debt.