Your last sentence is key: “[T]his would be a non issue if government just rained [sic] in spending…
Nathan Empsall
2

The Reason Foundation did a great article on the debt ceiling.

The debt ceiling only prevents the Treasury from issuing more debt. It doesn’t prevent us from paying any of our debtors. It just says we don’t have any more credit. Raising the debt limit is like paying off your credit card bill with credit from another credit card. Ever since the 2010 midterms there have attempts to balance the budget, but Democrat Senators have blocked a filibustered such legislation and Barack Obama has promised to veto such legislation.

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