What should we do about the debt ceiling, and why should you care?

Predictably, Mitch McConnell refuses to raise it and Democrats are trying to pressure Republicans to give in.

OMG! The DEBT CEILING FIGHT is back.

Many of you may be asking yourself: what the hell is the debt ceiling? In brief, it’s the limit on how much the government is allowed to borrow to pay for what it already owes on bills Congress has already agreed on and enacted — not for legislation that’s currently being debated. If it’s not raised, the government c…