[Levin]

The Government debt always has a ceiling under the constitution .  Pushing the government debt higher and higher will become a problem only when the total debt nearing or exceeding the total asset.  That is when US becomes a bankrupt.

The US government debt ceiling is way above the US government's total assets.

https://www.fiscal.treasury.gov/reports-...tml#chart4


The debt ceiling is just a figure to limit borrowings. I find it to be not very useful as it kept getting raised. I think the ceiling can go up until when the US government cannot pay the interest of the debt, not when they cannot pay the principal.

I think one use for it is to create tension when the opposition party tried to get some goodies by refusing to raise the ceiling.

https://www.investopedia.com/terms/d/debt-ceiling.asp