\n<\/p>\n
\n\t\t\t\t\tThe U.S. government is now taking “extraordinary measures” to pay its bills.The current debt limit of $31.4 trillion has been reached. On Friday night, the country’s debt sat at over $31.5 trillion.”Congress has to authorize the government to acquire debt \u2014 otherwise, it’s an unconstitutional act,” said James Wallner, a Clemson University political science professor.”The Constitution is very clear about who has the right to tax Americans,” Wallner said.The U.S. Treasury says the debt limit has been changed or raised 78 times since 1960, but it’s a hot-button issue, leading to worries that Congress won’t be able to act in time.”The jockeying that you’re seeing in Washington, D.C., right now between the president and Democrats and Republicans on Capitol Hill, is an effort to shape that final deal,” he said.Secretary Janet Yellen believes the U.S. can continue to pay its bills until June, but those bills are being paid by using accounting maneuvers; a stopgap until an agreement can be reached. One Upstate resident says the spending has to slow down.”We just can’t keep raising the debt and raising the debt. They’re spinning the country into oblivion,” Mary Hill said.As Congress takes up the issue, some elected officials want to raise the debt without changes.”The Democrats and some Republicans want to have a clean debt ceiling increase, that means a debt ceiling increase that allows the government to borrow more money, without any fiscal reforms whatsoever,” James Wallner said.Others feel that it’s an opportunity to cut back.”There are some Republicans, however, who would like to use this opportunity to demand that the federal government spend less or adopt other reforms; other fiscal reforms,” he said.\n\t\t\t\t<\/p>\n
The U.S. government is now taking “extraordinary measures” to pay its bills.<\/p>\n
The current debt limit of $31.4 trillion has been reached. On Friday night, the country’s debt sat at over $31.5 trillion.<\/p>\n
“Congress has to authorize the government to acquire debt \u2014 otherwise, it’s an unconstitutional act,” said James Wallner, a Clemson University political science professor.<\/p>\n
<\/p>\n
<\/p>\n
“The Constitution is very clear about who has the right to tax Americans,” Wallner said.<\/p>\n
The U.S. Treasury says the debt limit has been changed or raised 78 times since 1960, but it’s a hot-button issue, leading to worries that Congress won’t be able to act in time.<\/p>\n
“The jockeying that you’re seeing in Washington, D.C., right now between the president and Democrats and Republicans on Capitol Hill, is an effort to shape that final deal,” he said.<\/p>\n
Secretary Janet Yellen believes the U.S. can continue to pay its bills until June, but those bills are being paid by using accounting maneuvers; a stopgap until an agreement can be reached. <\/p>\n
One Upstate resident says the spending has to slow down.<\/p>\n
“We just can’t keep raising the debt and raising the debt. They’re spinning the country into oblivion,” Mary Hill said.<\/p>\n
As Congress takes up the issue, some elected officials want to raise the debt without changes.<\/p>\n
“The Democrats and some Republicans want to have a clean debt ceiling increase, that means a debt ceiling increase that allows the government to borrow more money, without any fiscal reforms whatsoever,” James Wallner said.<\/p>\n
Others feel that it’s an opportunity to cut back.<\/p>\n