New York (CNNMoney) - The United States will reach the limit of its borrowing authority in mid-October, Treasury Secretary Jack Lew said Monday.
At that point, Lew warned, unless Congress has raised the debt ceiling, the Treasury Department will only be able to pay the country's incoming bills with the cash it has on hand.
Ah. Another Blackmail Autumn from Republicans. We'll see if Obama caves this time. No more reckless spending cuts!
The GOP controlled congress will once again act stupid and do nothing. I sincerely hope Americans are watching and will finally vote these vile traitors out of office for good!
deja vous all over again – They have always raised the debt ceiling when they reach it so why have one? stupid is stupid isn't it? the ceiling is a proven waste of time and money. The issue is they don't control their spending because they know they can just raise the debt ceiling. we should be lowering it. we can not chronically exist funding our supposed high life on borrowed money – US citizens can not afford higher taxes for one. 1 + 1 = 2. Can't anyone do simple math?
i strongly suggest they raise the debt ceiling to $99999 trillion because that is absolutely the spending limit of the democrats. they will not spend one cent more than that! and then watch the credit ratin gof the usa plummet. why do this one drip at a time?
The national debt has been falling faster then at any time since WWII, due mostly to higher tax receipts. The GOP has no legitamacy on this subject. Their own Hal Rogers called them out on the absurdities of the Ryan budget that they cannot adhere to on a real world basis. Their only plan is to hold the govt hostage to achieve their extremist goals.
tell you what I think......I think congress is going to "cave"......not Obama.
I was actually against raising the debt ceiling before I was for it.
Republicans proving once more that they could not manage a third grade birthday party.
It's funny, and not the funny where laughter is optional. There's never enough to go around when there are needs and wants here at home. But just let the politicians get a chance to get involved in some kind of foreign trouble, and the money pit is bottomless. It's amazing how this always seems to happen, and yet there are those among us that believe it's just ginger peachy. Amazing. WAKE UP.
Sequester was instilled for a reason, and that was to curb the outlandish amount of spending we have as a country. Also, if no one else noticed, budgets have been submitted to the Senate, but both sides are just idly sitting on their bums, waiting until 2014 and 2016. I don't believe that Dem's will be "in control" then, based on history. However, something needs to get done, and needs to be done shortly. Maybe Congress can have a bake sale to help fundraise until they stop the name calling, game playing, and in general of just acting worse then childish, and can get something meaningfully accomplished.
Aw Gee Man,
Spend, Spend, Spend! Excuse me. Tax, Tax, Tax! Oh wait. Nobody make any money. Nobody work, Putin Care you know. Nobody hire. Insurance Coverage 15 thousand spouses UPS lose Coverage. Putin Care cost Airline 100 Million. Hell with raise debt ceiling. Cut Spending!
How are you going to pay for it we will default sooner or later with the Obama no leadership we have now.
The Senate needs to do what the House was elected to do stop the out of control spending and repeal Obamacare.
What's going on? I have said it and I will say it again and again until you get in your thick lobbyist driven half dead brains, the Roman Empire was once great but where is it now? The roman thought they were untouchable, infallible so they spent most of their time arguing about petty little stuff while ignoring a monster aka then woke up one day to find that the sun doesn't even wait for the king.
Why do we have a debt "ceiling" if it gets raised every time we reach it? Makes no sense at all.
And hello Republicans, the way you get what you want is to win elections, NOT to hold the economy hostage until you get your way. In my opinion that is a form of domestic terrorism.
Here we go again. I'm not going to raise the debt ceiliing just because I don't like Obama. I'm tired of hearing the same thing everyday from republicians. Do some kind of work instead of just going against Obama on everything
Stop foriegn aide, stop subsidies to big oil, and stop all of the paid vacations and perks to congress. No unnecessary spending. Now we need to take the republican controlled house and get on with rebuilding america.