The Debt Ceiling and Why It Matters

President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) met on Feb. 1 to talk about raising the U.S. debt ceiling. Many Americans, however, may not have a whole grasp on what that is, though oddly so many have an opinion on what should be done about it.
A recent poll conducted by RMG Research, for example, found that 79 percent of Americans think the debt ceiling should be raised, but are divided on whether that should be accompanied by spending cuts.
Of the 1,000 registered voters surveyed, 45 percent said spending cuts should be a prerequisite for raising the limit, and 24 percent said it should be raised with our without cutting spending….}