Government Debt Ceiling (SSR)

While doing one of my essays for school, I've been looking into the debt ceiling of this country. I've realized that the United States borrows more money than they receive. Similar to the quote "they bite more than they can chew", is basically what the United States is doing. While reading through some articles I saw that the United States Congress made new laws to be able to borrow money more easier. These laws are the First Liberty Loan Act and the Second Liberty Bond Act, both which were made in 1917.

At the start of this whole system, the United States Congress placed the debt ceiling as $43 billion. This is a lot money to us, but what the current debt ceiling is, its outrageous. The current debt ceiling is, as of November 18, 2013 is $16.699 trillion. Yes thats right close to $17 trillion, and the outstanding part is that the debt ceiling increases everyday. It is said that the debt ceiling increases by approximate 200 million dollars and hour. This is more that people make in a lifetime. If you wish to read more of this article, you can press Link and it'll take you to a Q. and A. in the New York Times. This is an old article, but it tells you a lot about it, and gives you an estimate on what the debt ceiling was in 2011. This was $14.3 trillion, and in this link it'll show you what presidents had the debt, and who held the debt.