What is the purpose of the debt ceiling?

What is the purpose of the debt ceiling?

Once again, the so-called “debt ceiling” is in the news. The Republicans, who traditionally favor limiting federal spending, now support increasing it. The Democrats, who traditionally favor increased federal spending, now advocate for limiting it. So, as of this writing, we are headed toward a stalemate, which threatens America’s economy. The Basic Problem: Inflation Money was created as a store of value and a medium of exchange. It is the basi…