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How did we get to this point?

The raising of the debt ceiling is one of those peculiar features of the American political system, right up there with the Senate filibuster and the presidential Thanksgiving turkey pardon. Every so often(89 times since 1939) Congress has had to vote to raise the debt limit, even though it already voted for the spending obligations that brought the country to the edge of its borrowing power. Usually, the vote is a formality that occurs after some predictable posturing by the minority party (see Sen. Barack Obama, 2006.)

Source: http://feeds.washingtonpost.com/click.phdo?i=891d5fe745d26e96bac84d7fbbacdd95

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