According to the Peter G. Peterson Foundation chart, the debt ceiling has been raised 89 times since 1959 in an effort to keep pace with federal spending.
Sheldon H. Jacobson, Opinion Contributor for “The Hill” believes, “Moving the debt ceiling higher merely “kicks the can down the road” until the newly established debt ceiling is approached. Whether it takes a few months or even a few years, the new debt ceiling will never be enough.”
What is the solution? Jacobson suggests eliminating the debt ceiling.