The debt ceiling dilemma ( dumbed down for the teabag people)

[SoCalDem]

Dad (Us Govt/president of the day) signed up for every "you have been pre-approved) credit card offer that came in the mail..

He signed Mom's name (the US public/all future presidents) to the space that asked for "spouse's name".

He then ran up every card to its limit and kept transferring balances as new offers came in.

he bought everything he ever wanted, and just paid the minimums

at some point along the line Dad "died" .

Guess what ? MOM "owes" the money...and if she does not pay it back, she's is deep shit..and when she "dies" the debt will still be owed by her estate.

The debt ceiling is an agreement that we will honor our debt, even though MOST of it has been run up by people who are no longer even in office.. It's an official notice that we are not deadbeats, and we will figure out some way to keep on paying it.

In real life, creditors usually do not "call in the debt".. they will work with Mom to help her keep paying, and they know she cannot just "pay it all off" immediately, because she also has OTHER expenses to pay..