The real issue is that people don't really understand the debt ceiling, especially congress. This will not add to the current deficit, this will enable us to pay our current bills. If we don't pay we'll end up forfeiting on loans to places like China. I understand why Obama is digging his heels in but this could destroy our country's credit rating.
We've already got all the means of maintaining the government without incurring more debt. Hell we don't even need to balance the budget. We can raise taxes on the wealthy, and we can cut the huge amount of spending on stupid shit like the military budget. We don't need to get more debt.
The country is already in enough debt as of now I dont think the country could afford to keep going higher and higher in debt. The more debt we are in the more problems the country will end up having. But with their current plans for moving ahead they are trying to lower the country's debt as best as possible.
It is understandable why Obama is not wanting the debt ceiling to be raised. We are already in enough debt, and if the ceiling is raised, this problem will just become bigger and bigger. We need to focus on a way to lessen the debt instead of enabling ourselves to get further into it.
Of course, the question completely ignores the possibility of cutting spending to balance the budget. A balanced budget, limiting government growth and stymieing public assistance programs would actually help the economy greatly.
Moreover, recklessly raising the debt ceiling would eventually raise the debt so high that credit organizations would eventually recommend against lending any money to the US at all, which would make our economic situation much worse.