The current debt ceiling is $16.4 trillion. When you took office the national debt was $10.7 trillion. It is now $15.7 trillion — 103.7 percent of GDP — and accumulating at a rate of $3.7 billion a day (the national debt averaged 60.3 percent of GDP under President George H. W. Bush, 65.2 percent of GDP under President Bill Clinton, and 64.2 percent of GDP under President George W. Bush). Interest alone on the debt is $226 billion — $1,990 per taxpayer.
Irrespective of the debt ceiling, is there a level of national debt beyond which you would refuse to go under present circumstances? If so, what is that level and why would you refuse to exceed it?