BOYLE REINTRODUCES LEGISLATION TO ABOLISH THE DEBT CEILING
WASHINGTON, DC – Congressman Brendan F. Boyle (PA-02) today reintroduced legislation to abolish the United States debt ceiling. The debt ceiling is a statutory limit on the amount of national debt that may be issued by the U.S. Treasury after it has spent and incurred that debt. It ultimately limits how much money the federal government can borrow to pay its own bills.
“I have not wavered from my stance that the debt ceiling and its recurring problems and crises that accompany it are completely avoidable”, said Congressman Boyle. “The problem with the debt ceiling is that it does nothing to address the problem of government debt and only serves as a political tool for political parties. Repeated threats of government shutdown and debt default are unnecessary and problematic to say the least. It is a self-inflicted problem we can fix by simply doing away with the debt ceiling—like so many other countries have done.”
Congressman Boyle’s bill would repeal the statutory debt limit that sets a legal limit to how much the Treasury can borrow.