How would you handle a “debt ceiling” at your house?

Unless you’ve been hiding under a big rock, you’ve heard about the ongoing fight in Washington as to whether Congress should raise the US debt ceiling.  The Republican’s are holding the line that if we’re going to raise the debt ceiling, we must ensure there are cuts in spending that more than make up for any additional borrowing.  They’ve also said that raising taxes is off the table (we’ll see about that, though).  The Democrats want to do more with what they like to call revenue increases, which really means raising taxes.  They figure if they say that the additional taxes will only be on the “millionaires and billionaires” and “private jet owners”, then most of America will be on board with that. Read more…

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