Did you know that Congress et all has raised the debt limit 7 times in the last 7 to 8 years? That amounts to $43,000 per household. Another additional $8,800 is currently proposed. Let's be clear, if your city did that it would be gone. It's also the same as each household spending 43000 to 51800 that they don't have to spend and can't repay. imho: essentially, we're already bankrupt at the federal level. No clue how to get out of it. And yet, rather than seriously trying to fix it, all play the blame game, and ask for more money. http://blog.heritage.org/2013/09/26/morning-bell-43000-per-household/