The average consumer may feel far removed from the heated debates on Capitol Hill concerning the $14.3 trillion debt ceiling, which the nation could crash into next week. But the truth is, American households are dealing with plenty of their own red ink, and the debt issues that lawmakers must solve to get the nation back on track are similar to those facing consumers.

Seen from a liberty perspective of the American people, Rep. Tom DeLay’s career was a failure. The Texas Republican, undergoing a trial for alleged ethics violations, announced yesterday that he would not seek re-election this fall.

During this Christmas season of cheer and good tidings, a universal message is going forth. They are all united from Barack Obama to Martha Stewart to Wall Street Banks, the Federal Reserve and even your local mall agrees: Please borrow to spend more this Christmas.

Steve Bucci is the author of “Credit Management Kit for Dummies.” Email debtadviser@bankrate.com.

Tom Purcell: Rather than criticize the bureau for wanting to spend a pittance on a humor consultant, our politicians ought to be on their hands and knees, praising bureau employees for keeping our government afloat while they spend recklessly.

Dear Debt Adviser: How do I find out the timeline on my debt? I know after six or seven years the debt is taken off. I would like to know if there is a way to see if it is gone. -- Mark

Richard Carmona (“Politicized attacks on Pell Grants misguided,” EVT 3/30) is right that a good education opens doors. What he fails to grasp is that incurring massive debt in exchange for an unmarketable degree often slams shut the door of opportunity. For many students, Pell Grants have simply been a gateway drug to a mountain of debt. As Carmona points out, Pell Grants cover less than a third of the cost of tuition, with the remainder often covered by government-subsidized loans. Mr. Carmona omits mention of loans entirely. Perhaps because it would complicate his partisan hit on Congressman Jeff Flake, whose comments about the government driving tuition inflation were clearly addressing the entire massive array of federal subsidies. Total student debt, much of which is subsidized by the government, recently topped one trillion dollars! If you think all that cash hasn’t led to inflation, then you may have a degree, but you missed the education.

NATIONAL DEBT

 As one of its very last acts of the year, the U.S. Senate voted to raise the ceiling on how much money the Treasury can borrow by $290 billion to $12.4 trillion.

The Maricopa County Board of Supervisors approved the final payment Friday on the Chase Field loan.

To say our state is in serious financial straits is a great understatement. The downturn in the U.S. economy has certainly been felt in Arizona and it doesn't appear we can expect a turnaround anytime soon. Compounding the problem, the Arizona Legislature has passed and the governor has signed the worst budget our citizens could imagine.

Up to now, Scottsdale’s reputation for sound fiscal management has meant saving taxpayers significant amounts of interest on debt payments. But recent expenses could endanger that reputation, to taxpayers' cost.

Dear Debt Adviser: I may have to retire soon for health reasons. If I default on my unsecured credit card debt, can my Social Security benefits or pension be garnished? — David

A dozen West Valley residents paid a visit to the Glendale office of Rep. Trent Franks Monday to ask him to vote in favor of raising the debt ceiling. “It’s a matter of survival,” said Karen Daley of Surprise. “If we don’t raise the debt ceiling we’re in trouble. We had to come out here to try to do something.”

Our View: The question seems almost impossible to answer. To help fix the state’s budget, would you prefer to raises taxes precisely when everyone already is being hurt financially by a national recession — or would you borrow heavily against future gambling returns and tobacco settlement payments and just pray that you won’t have to raise taxes later to pay for the programs that those revenues now fund?

U.S. House candidates J.D. Hayworth and Harry Mitchell outlined their contrasting positions on the national debt, immigration and other topics during a feisty debate Monday in Scottsdale.

President Obama says "some powerful special interests" have been talking about him "like a dog," and it's true, especially that incredibly, awesomely powerful interest known as the American public, but there is a way out.

NEW YORK - As the bills from holiday spending sprees arrive, Americans are finding that the mountain of debt they’ve built has gotten even higher.

Tibor Machan: The current focus on bailouts brings to the fore a widespread confusion. Perhaps it can best be understood by comparing the bailouts that many of us who are parents have performed versus the government’s bailout of banks, car companies, etc.

REYKJAVIK, Iceland - Iceland's coalition government has collapsed after an unprecedented wave of public dissent, plunging the island nation into political turmoil as it seeks to rebuild an economy shattered by the global financial crisis.

Robert L. Hale: Thirty-eight state budgets are in the red. The Government Accountability Office estimates that federal debt, on a per-household basis, is between $299,880 and $754,095. The difference is based on whether all households are counted or just those that pay income taxes. The GAO points out that the debt is the result of entitlements and unrestrained government spending.

NEW YORK - Wall Street rallied in a stunning late-session turnaround Thursday, shooting higher and hurtling the Dow Jones industrials up 400 points following a report that the federal government may create an entity that will take over banks' bad debt.