The Debt Ceiling

Like Bill Murray reliving Groundhog Day over and over again, it seems that the Debt Ceiling debate has once again returned to rear its ugly head.  It seems like only last year that congress settled the dispute over the growing government debt... oh wait... it was last year.  Unfortunatly, the legal debt limit is fast approaching and congress must once again decide how to deal with the problem.  As is ususally the case with terrible problems that could potentially ruin the United States as we know it, there is no clear-cut solution.  Republicans and Democrats view the Debt Ceiling (and those to blame for it) very differently.

Read through the articles below and answer the questions that follow.


http://www.treasury.gov/initiatives/pages/debtlimit.aspx
http://online.wsj.com/article/SB10001424052702303796404579097013297326356.html
http://www.nytimes.com/2013/09/27/us/politics/house-gop-leaders-list-conditions-for-raising-debt-ceiling.html?_r=0
http://tv.msnbc.com/2013/09/25/raise-debt-limit-before-october-17-or-risk-default-treasury-warns/
http://www.nbcnews.com/business/warren-buffett-debt-ceiling-fight-would-be-damn-dumb-4B11210658

1. What is the Debt Ceiling, and what are the dangers if a solution is not reached.
2. How do Republicans want to deal with the Debt Ceiling?  How about Democrats?
3. Which political party do you believe has the better view of the Debt Ceiling?  Explain.