The debt ceiling debate is something technical that very few people actually understand. Did you know that the US has actually had three instances when it could have defaulted on its obligations? This happened in 1790, 1933 and 1971. It seems like lawmakers are using the debt limit to force the administration to accept significant spending cuts. There is a terrific article in the Washington Post that explains this debate and sheds some light on a different view of the situation.
Click here to read the entire article.