It's time to do away with the debt ceiling

Here we go again. The United States crashed through the nation’s debt ceiling on Jan. 19, according to Treasury Secretary Janet Yellen. For now, the government is relying on accounting tweaks and shifting money from one pot to another to pay the bills. But that only works for so long.

Soon, Congress will have to raise or suspend the debt limit. The alternative, defaulting on America’s financial ob...