The return of the debt ceiling

By Pete Kasperowicz

Published March 15, 2017 4:01am ET

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The return of the debt ceiling — FILE - In this Dec. 31, 2013, file photo, a woman looks at the U.S. Capitol in Washington. After last fall's tumultuous, bitterly partisan debt ceiling and government shutdown battles, a sense of fiscal fatigue seems to be setting in among many Washington policymakers as President Barack Obama prepares for his fifth State of the Union address later this month. (AP Photo/Jacquelyn Martin, File) | Jacquelyn Martin

When Wednesday ends, the federal government won’t be able to go any further into debt until Congress gives its permission.

That permission will only be granted after several months of agonizing among Republicans, many of whom don’t want to increase the debt at all and want to start making real cuts to spending. In those months, Democrats will argue that Republicans are putting the U.S. at risk of default by not allowing more borrowing.

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Congress Debt Ceiling Minusextra National Debt Pete Kasperowicz Spending