We run into this every year, congress okays spending more money than we have knowing we can borrow the money but they have this ceiling on how much money can be borrowed and they know this. They spend the money anyway and then act surprised when the debt ceiling needs to be raised again.
It’s a stupid process and it keeps things from getting done. The time to worry about the debt ceiling is before the money is spent, not when we open up the credit card statement and see that we are over the limit.
There’s a much better way:
Treasury Secretary Steven Mnuchin has suggested scrapping the existing debt-limit process and replacing it with one that automatically lifts the borrowing limit every time Congress appropriates future spending.
And it looks like President Trump is throwing in with the Democrats to get this accomplished. Good luck with that but this is a good plan. Rep. Ryan had best agree to it but he won’t.