With the end of the government shutdown, we also saw a hike in the debt ceiling. For the last few years we have been witness to several different debt ceiling discussions and whether or not we should continue to raise our debt limit year after year. Well after this most recent hike, it seems clear that the U.S. government is behaving no better than a teenage girl at the mall with a limitless credit card.
In just the last week, since Congress reached the deal to suspend the government’s debt ceiling, the Treasury department has managed to spend another $375 billion.
Before the most recent deal, the U.S. debt was fixed at $16.69 trillion. But now that the Treasury has a suspended debt limit through February 7, 2014, the department can basically spend as much money as they want.