What's all this "debt ceiling" talk about...

In a rare move i am actually going to post a "political" article -- well its truly more of a financial article. Lately there has been constant chatter on news channels & shows regarding the nation's "debt ceiling" and the dire need to raise it.

I ignored it as long as i could until i came across this very simple & practical article by the New York Times giving a quick Q & A to fill me in without having to sort thru all the partisan rhetoric (thankfully!).