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Debt Ceiling: How Long Until We Hit It Again?--Graphic Debt Ceiling: How Long Until We Hit It Again?--Graphic

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Homepage / BUDGET

Debt Ceiling: How Long Until We Hit It Again?--Graphic

photo of Julia Edwards
August 2, 2011

As Democratic leaders reminded the public often last week, raising the debt ceiling has historically been a relatively routine procedure. As this graphic shows, Congress voted to raise the debt ceiling 10 times in the past 10 years. That logic, of course, made Republicans and penny-pinchers in the tea party all the wearier of raising it again. Cuts will be made to balance the latest $2.4 trillion rise in the ceiling, but the faltering economy and the decisions of Congress’s deficit-reducing super committee could spike efforts to keep the debt down. What does all this mean? The sequel to everyone’s least favorite cliff-hanger may begin production in 2013 or even 2012.

 

 

 

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