You Can't Control the Debt Ceiling, But You Can Control What You Do About It
Earlier this year, the U.S. hit its $31.4 trillion (yes, trillion with a "t") debt ceiling, sending the U.S. government into a scramble to fix the issue for the time being. For some people, this was the first time they've dived into the debt ceiling issue. But regardless of where you personally stand, it's important to remember to control what you can control.
Established in 1917, the debt ceiling is the maximum amount the federal U.S. government can legally borrow. Congress sets this amount, giving it control over how much debt the U.S. can (and should) accumulate.
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Source Fool.com
