Dick Durban says that spending cuts and tax reforms are needed for a balance plan to reduce the deficit.  However by linking them to an increase in the debt ceiling was not a good plan made by Republicans.  He also said that we need to put this behind us in a hurry.  Currently the U.S. has exceeded its legal limit $16.394 trilion.  Becuase of this the Treasurey isnt able to borrow money from the markets, therefor they are now using "extrordinary measures" to ensure that all the Goverments bills are paid.  Yet, this will only by them about two months.  The united state runs the risk of defualt if the debt ceiling isnt raised by February.  Republicans demand that spending cuts equal that of the debt ceiling, however the Democratic minority leader in the House of Representatives thinks that it doesnt make sense to link the spending to the debt ceiling. 
 


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