That we should raise the ceiling to keep things going in the short term is obvious. Given our government's track record, it's equally obvious they will just keep spending until we hit some crisis point that renders further borrowing impossible. At which point I guess the currency will tank, game over. We've only had a handful of years in the last century where the US has earned more than it's spent. For whatever reason, this country's leaders refuse to run in the black - at any point, ever - so the slow decline of the US is frustratingly obvious.
It's equally obvious that the Democrats and Republicans will stay in power at least until this happens, and probably until the sun burns out. Gerrymandering, the electoral college, and voters' fears of "wasting" their vote one someone other than a major party member perpetuates this culture of partisan gridlock and unbelievable deficit spending. There is a corresponding lack of social reform (vis a vis the Patriot Act and everything that followed), but that's beside the point.
Our current Congress is the least productive in history. They will not be able to bring the budget under control in time to avoid defaulting (or pass anything more complicated than a bill naming streets in someplace other than the nation's capitol). So yes, the debt ceiling should be raised. In the meantime, assuming the balance of power doesn't change dramatically, we should probably be looking at immigration. There are other countries that aren't completely bent on ruin. It would probably be more rewarding to work for the betterment of one of those.
It is necessary to raise the debt ceiling to avoid defaulting on our debts. Of course, too much debt is a bad thing, and we should try to limit our borrowing in the future. But for the time being, raising the debt ceiling is unavoidable in order to keep the nation from shutting down.
We should not raise the debt ceiling at all. Steps should be taken to reduce the debt. It is a problem that needs to be addressed not ignored. By raising the debt ceiling it is just ignoring the problem and passing it on to future generations and the problem will get bigger.