Treasury reaffirms Aug. 2 debt ceiling deadline
July 1st, 2011
11:05 AM ET
12 years ago

Treasury reaffirms Aug. 2 debt ceiling deadline

NEW YORK (CNNMoney) - Underscoring the need for swift congressional action, the Treasury Department on Friday reiterated its Aug. 2 deadline for raising the debt ceiling.

Treasury urged Congress "to avoid the catastrophic economic and market consequences of a default crisis by raising the statutory debt limit in a timely manner," according to a statement.


Filed under: • Congress • Debt • Treasury Department
soundoff (10 Responses)
  1. ConservaFASCISTS

    Attention republicans: a timely manner isn't August 1, 2011 at 11:59pm.

    July 1, 2011 11:09 am at 11:09 am |
  2. GI Joe

    I think TRUMP was complaining about President Obama (remember that foolish look on his face when the president made fun of him the NIGHT BEFORE OSAMA BIN LADEN WAS KILLED?). Little did TRUMPet know about all the facts.

    Little do the republicans know about ALL the facts. Our president is working for the entire country. They are each working for for their favorite corporations.

    July 1, 2011 11:25 am at 11:25 am |
  3. GI Joe

    When Obama voted against raising the debt ceiling, it has to be remembered that Bush already had raised it 5 or 6 times in order to cover the unfunded tax cuts. He didn't even put the $4.4 trilliion for two unfunded wars on the books!

    July 1, 2011 11:28 am at 11:28 am |
  4. Bill from GA

    Some commenters on this topic assume the repugs will get all the blame. You overestimate the awareness of the American voters. Here in Georgia, I often hear: "What has Obama done?"

    The right-wing propaganda network is highly active, but the 'mainstream' media does little to boost his accomplishments. When jobs growth is around 50 or 60 thousand, it is seen as poor performance. What did they call LOSSES of 750,000 per month??

    If the debt ceiling is not raised before default, our President will be blamed by the ignorant masses in this country. And the repugs will do anything to harm this country, as long as they can blame it on our President.

    July 1, 2011 11:29 am at 11:29 am |
  5. Rudy NYC

    Why do Republicans talk tough and smile at the same time? Some of them are not capable of smiling.

    July 1, 2011 11:32 am at 11:32 am |
  6. John

    What are the Republican getting for protecting the Rise and BIG BUSINESS not to Rise Taxes. We all know they are not doing this for nothing. When It was the Republican that say everything was on the table. I guess It just another Republican LIE again. But what get Me Is why the Republican don't have any trouble taking everything from people who Is just baring getting by ever month. This Is what Happen when you put Republican In charge of anything, They all way mess It up. You think America In trouble Now you let the Republican not rise the dept Ceiling In time, and that way be for Aug. 2. Than see how much trouble America In. That when they drop are credit rating and we will have to pay high Interest on are dept and that will mean America will have to pay more money on that dept.

    July 1, 2011 11:33 am at 11:33 am |
  7. Rudy NYC

    @Bill from Ga:
    The right wing media machine uses radio very effectively. It pumps out gloom, doom, and destruction almost non-stop.

    The truth about the debt limit and its' deadline is that the Congress must act first. Congress actually has the ball. The House has passed only 18 measures so far this year, half of them appointments. The only way to combat lies is with the truth.

    July 1, 2011 11:45 am at 11:45 am |
  8. Mikey

    Message to GOP – Just get this done. This is NOT the President's responsibility, it is the responsibility of Congress. This should not be viewed as an opportunity to hold the economies of the United States and the world at large to get your favored spending cuts without compromising on taxes and corporate welfare. You were elected to serve the people and dispite what the SCOTUS says, CORPORATIONS ARE NOT PEOPLE.

    July 1, 2011 11:51 am at 11:51 am |
  9. Chipster

    Republicans are determined to protect the wealthiest Americans from sharing the burden of the economy that they crippled with huge tax cuts for the wealthy while spending trillions on 2 unfunded wars. They have good reason to think Democrats will cave because, so far, Democrats have been too willing to back down on every critical issue. If Republicans were as good at governing as they are at marketing false information, we wouldn't be facing this crisis. Bush allowed Bin Laden to escape when he diverted our resources to Iraq. Obama focused on pursuing and eliminating him. Obama has kept his promises to Veterans and tried to protect senior citizens benefits. Yet, Republicans manage to convince them to vote against their own interests. Republicans have devastated Unions, yet working class people have supported them because the GOP uses fear, prejudice, and religion so effectively. It's astonishing!

    July 1, 2011 12:00 pm at 12:00 pm |
  10. Rudy NYC

    Rob wrote:
    Democrats have their backs against the wall....
    That wall that you see is the will of the American people. The right wing has grossly overplayed a weak hand. They promised jobs in 2010 and rewarded the American people with lies and no compromise. Nope, that's no wall. It is the will of the American people. Opinion polls say 25% blame Republicans, 26% blame Congress, and only 8% blame Obama. The American voters, you've taught them well.

    July 1, 2011 12:19 pm at 12:19 pm |