 us reaches debt limit now what  today the us government reached the 1429 trillion debt limit and now it is up to the congress to figure out what to do about it republicans are calling for deep spending cuts as a requirement for voting to raise the limit the american public says they don t want the limit increased yet balk at cuts to existing programs or raising taxes what happens if the limit is not increased read more at  wwwcsmonitorcom usa politics 20110516 usreachesdebtlimitwhatcomesnext another article that sorts through the fact and fiction about the debt limit can be found at  wwwnypostcom p news opinion opedcolumnists obamadebtlimittrutht 20wistingqgmc6yt1sdi6yif1trhtap  reaches debt limit now what  