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Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Ten of those times have occurred since 2001. Expect more of the same over the next decade.
The 1995 request for a debt ceiling increase led to debate in Congress on reduction of the size of the federal government, which led to the non-passage of the federal budget, and the United States federal government shutdown of 1995â96.The ceiling was eventually increased and the government shutdown resolved.he 1995 request for a debt ceiling increase led to debate in Congress on reduction of the size of the federal government, which led to the non-passage of the federal budget, and the United States federal government shutdown of 1995â96.