Mind if I spend $54000 on your credit card today?
The National Debt Clock here: http://www.brillig.com/debt_clock/ says I owe $53,935.56 today. As a matter of fact, each of my children do too. And my girlfriend, her parents, our neighbors, grandparents and the homeless guy standing next to the freeway exit ramp. Every single person, newborn to 115 yrs old owes $53,935.56. What would you do if our creditors demanded payment in 48 hours? Would you have to become enslaved to work off your debt? Or would you have enough to bail out you and your family? If raising the federal spending limit makes sense to you, is it okay if I borrow your credit card? I swear, I'll only charge enough to get my family out of debt then you can have it back.