Things I don't understand about the debt ceiling

[fadedrose]

2. Why is there not a term to say when payment is due?

I know what you're saying, that more was spent than budgeted, so the debt itself must be raised to new ceiling...

But where in the hell is there even one word or sentence showing how much we owe who, and how much we must pay to keep our credit rating. My minimum is $25/month or my credit rating is ruined. If I buy more stuff, my minimum might be raised to $50/month with the same terms - a due date that even a day late brings about gargantuan charges added to the debt.

But there is payment involved. Why can't the debt ceiling which is paying a debt and increasing debt say even one teensy thing that something must be paid or we pay a finance charge.

Thanks, I understand sequester better. But the bank says it better. They call it escrow, meaning it goes for payment in connection with loans.

I will have you all mixed up like me yet.