- Jan 2010
Geithner: U.S. To Hit Debt Limit December 31
IGOR BOBIC 4:30 PM EST, WEDNESDAY DECEMBER 26, 2012
The United States will reach the statutory debt ceiling on December 31, 2012, Treasury Secretary Tim Geithner announced in a letter to Congress on Wedneday. The federal government will then begin taking a series of "extraordinary measures" as authorized by law to postpone a default on its debt, creating an additional $200 billion in headroom in order to provide Congress with the necessary time to raise the ceiling once more.
And the tea party backed, or just scared shitless, Republicans in Congress think they are voting for spending, by voting to pay for what they already spent. They somehow don't understand that paying for what you've spent is what grownups do. Pitching a fit and tossing the bill in the trash is what immature idiots do.
This country is getting stupider and stupider.