House Democrats aim to repeal the debt ceiling

One way out the debt ceiling showdown: getting rid of the debt ceiling altogether. A group of House Democrats is introducing legislation Wednesday that would repeal the federal debt limit.

Reps. Jan Schakowsky (D-Ill.), Jerrold Nadler (D-N.Y.), Hank Johnson (D-Ga.), Jim Moran (D-Va.), Keith Ellison (D-Minn.) and Peter Welch (D-Vt.) are behind the effort. Some of the same lawmakers attempted to repeal the debt limit in 2011. Given Republican control of the House, it is incredibly unlikely that this legislation will pass.