Have I missed something politically?

All I hear from politicians and the media is - "we need to raise the debt ceiling quickly", "we will loose our good credit rating if we don't raise the debt ceiling now" and "we are doomed if we don't raise the debt ceiling straight away!"

I may be simple, but if we have to keep borrowing more money to meet our existing debts, why would anyone give us a good credit rating, and aren't we doomed as a nation financially if this need to borrow more and more does not change?

I hear complaints that one party makes an issue of raisng the debt ceiling every year. I have a proposal, cut the budgeted expenses for next year, by the amount they are having to borrow this year, and next year there will be no reason to raise the debt ceiling!