Debt Ceiling possibly averted

The infographic depicts the rise in debt of the U.S. economy from 1940-2020.  In order for government to continue, a deal must be met.  This is known as the debt ceiling.

MCT Photo

The infographic depicts the rise in debt of the U.S. economy from 1940-2020. In order for government to continue, a deal must be met. This is known as the debt ceiling.

After Speaker of the House John Boehner announced his resignation, one would assume that appointing his successor is the only turmoil going on in Congress.

As of now, he is supposed to be succeeded by Representative Paul Ryan.

Sophomore Charles Harte said, “I thought that Speaker’s of the House had to be elected. I didn’t realize Speakers could just resign.

Amidst this power struggle, there is a much bigger problem, that is an issue for Congress every year. This problem is the debt ceiling.

Harte said, “I remember hearing about this last year, also. It seems to come up often.”

In the plan as sent out by Boehner, cuts would be made in the following areas, including; Medicare, Social Security, investing in oil.

Over the next two years almost $32 billion will be spent on the military. Also, $80 billion would be spent just to increase the budget marginally over the next few years.

Sophomore Nikhil Sekar said, “I hope this issue is resolved.”