Rep. Bill Foster (D-IL) and 42 Democratic co-sponsors have introduced the End the Threat of Default Act which will eliminate the debt ceiling and allow the U.S. Government to borrow money without limit. House Republicans want the government to commit to cuts in future spending but Democrats accuse Republicans of “weaponizing” the debt ceiling and that “partisan budget negotiations” are a threat to the U.S. economy. Last week the Treasury Department said that the current debt limit of over 31 trillion was reached last week.
