Is the Debt Ceiling a Runaway Freight Train?

The debt ceiling is "the most important policy debate or confrontation that we're going to have in 2023," says CNN's John Avlon. The GOP has no real problem raising the debt ceiling, but when Democrats are in power, they demand spending cuts as part of any increase,. In 2011, Obama did choose to negotiate with House Republicans on a deficit reduction deal and went through months of secret meetings.