May 26, 2012 SouthAmerica: Regarding the "U.S. Debt-Ceiling Debate" <iframe width="420" height="315" src="http://www.youtube.com/embed/yS0xgTlkXGU" frameborder="0" allowfullscreen></iframe> Republicans and Democrats having a friendly discussion during "U.S. Debt-Ceiling Debate" .
I have to admit that this <img src="http://upload.wikimedia.org/wikipedia/commons/thumb/e/ed/US_Public_Debt_Ceiling_1981-2010.png/375px-US_Public_Debt_Ceiling_1981-2010.png"> appears to be "decoupled" from the growth of GDP. Edit: The only comfort I suppose is that most of the debt is held by us (changed chart) <img src="http://upload.wikimedia.org/wikipedia/commons/1/17/Estimated_ownership_of_treasury_securities_by_year.gif"> http://en.wikipedia.org/wiki/United_States_public_debt
There is no ceiling so no debate needed. Even if there were a ceiling the politicians would create another set of off the books accounting. Where do you think enron learned to do their accounting?