Joe wants there to be no debt limit, You know some people know not to hand over their wallet bank accounts and credit cards to a crack whore , others like democrats do it with glee and a and a open mouth like a wild retard running .Then wonder when it didn't work out what went wrong .
This would explain what it means to a rational person, you excluded of course. Again, if you bother to research, you wouldn't make yourself look silly.
In the United States, the
debt ceiling or
debt limit is a legislative limit on the amount of
national debt that can be incurred by the
U.S. Treasury, thus limiting how much money the federal government may pay on the debt it already borrowed by borrowing more money. The debt ceiling is an aggregate figure that applies to gross debt, which includes debt in the hands of the public and intra-government accounts. About 0.5 percent of the debt is not covered by the ceiling.
[1] Because expenditures are authorized by separate legislation, the debt ceiling does not directly limit government deficits. In effect, it can only restrain the Treasury from paying for expenditures and other financial obligations after the limit has been reached, but which have already been approved (in the budget) and
appropriated. Many scholars argue that the debt ceiling does not provide the legal authority for the United States to default on its debt.
