Fact; the Debt Ceiling has absolutely NOTHING to do with the federal budget. Raising the Debt Ceiling IS about heaving enough money in the "bank" to PAY TODAY'S BILLS. The bills that are law today.
Budgets are spending PLANS for the future. Also, budgets do NOT actually spend money. Federal dollars get spent, allocated, by Appropriation Bills that are passed separately.
PBS Newshour 7/28/2011
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