The debt ceiling is political posturing by small government ideologues. It serves no rational purpose. As the nation grows, the money supply has to grow with it - otherwise the only fuel for growth is private debt - and look what that achieved in 2008. And since the money supply is not allowed to grow other than by federal "debt" (the government "borrowing" what it can issue endlessly, and paying coupons to those who don't need it) then the debt ceiling has to grow.