New York (CNNMoney) – Government borrowing will hit the debt ceiling on Monday, Treasury Secretary Tim Geithner said in a letter to Congress Wednesday.
As a result, the Treasury Department will soon start using what it calls "extraordinary measures" to prevent government borrowing from exceeding the legal limit, Geithner wrote.
Let it go over the cliff...then everyone can pay "their fair share" win win for the Democrats... riiiiight?
As alabama just declared a state of emergancy. And oh lets not 4get sandy. This is the spending we r doing not just wars and the rest!
Has anyone met a responsible for ANYTHING republican???? Didn't think so. Now cut all spending to defense and watch the weasels wiggle....all it took was a Harvard educated man from a third world country to out fox the selfish bums!!!Ha ha ha....now the republicans with a MANDATE can figure out how they RAISED taxes on everyone!!!!
GOP claim people buying more house than they could afford was the problem. You can look at the wars the same way we bought more war than we could afford. Now we owe more on the wars than what they were worth. However, unlike an upside down mortgage, we can't just walk.
Lets hit the cliff....."fair share" baby ....bwahahaha
Nothing new. The Liberal's and Democrats want to run the country but they want the Conservatives and Republician's to pay for it. The Liberal's want to cut nothing and will all be dead when the whole system collapses.
For all you Nanny Staters that still need a baby sitter, sign up here.
The line forms at the left. Check your brains at the door. You won't need 'em.
Be prepared to wait a long, long time for your(Acrued Benefits).
1, war was unnecessary while the other one was for the protection of our country are you guys saying that that war was a waste of money?
The House should refuse to raise the debt ceiling all together until the President agrees to a minimum of $5T in real spending cuts over 10 years.
Yes , Americans are getting dumb and dumber.
You carry on borrowing money for things you can't afford.
That is not a solution that is sheer stupidity.!!!
I say extrordinary measures would b grt 2 c all congresses pay cut n half and pentions stopped 4 all of them.
Sorry Gurgyl your wrong. We are sending 20 F16s to Egypt as part of a 1 billion dollar foreign aid package paid for by the U.S. taxpayers. Which is borrowed money from China. 4 of them are to be delivered by the end of the month Jan 2013.
Democrats love spending money and they will continue to spend money for another 4 years. Democrats' solution to their bad, out of control spending habit is to have someone else pay for it. This spending out of control won't stop.
Do you know why China avoided the recession , stimulus ! If I'm not wrong please correct me. Republicans supported two ten year wars , put them on a credit card , and wanted to reduce taxes on the wealthy ....
Reagan cut spending on mental heath , education and infrastructure .
Why dose out of control mean to you ?
how dose it feel to belong to the party who says they don't drink alcohol until there pulled over for drunk driving ?