Ponzi scheme: a fraudulent investing scam which generates returns for earlier investors with money taken from later investors.

So? The only difference between a hedge-fund and the US is that a county can run a Ponzi scheme for decades before the bubble bursts.

Just so you are acknowledging that this is not a Biden issue: it's a bipartisan issue:

"Depending on who is doing the research, it is said that the US has raised its debt ceiling (in some form or other) at least 90 times in the 20th century.[11]

The debt ceiling was raised 74 times from March 1962 to May 2011,[12] including 18 times under Ronald Reagan, eight times under Bill Clinton, seven times under George W. Bush, and five times under Barack Obama. In practice, the debt ceiling has never been reduced, even though the public debt itself may have reduced.

Congress has raised the debt ceiling 14 times from 2001 to 2016. The debt ceiling was raised a total of 7 times (total increase of $5365bil) during Pres. Bush's eight-year term and it was raised 11 times (as of 03/2015 a total increase of $6498bil) during Pres. Obama's eight years in office."

Trump was aware of that issue and intented to resolve it.
You elected Biden- now deal with it.
Newsflash: it won't go well for another decade; those schemes end up exponentially.
The $3,5000,0000,0000,0000 bill is likely the golden shot for the spending addict.