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The PJ Tatler

by
Bryan Preston

Bio

December 26, 2012 - 1:44 pm

While the president plays golf, news is breaking that the United States is already within days of hitting our debt limit again.

The U.S. Treasury on Wednesday announced the first in a possible series of emergency steps to push back the day when the government will exceed its legal borrowing authority as imposed by the U.S. Congress.

The Treasury said on Dec. 28 it would suspend issuance of State and Local Government Series securities, known as “slugs”, which are special low-interest Treasury securities offered to state and local governments to temporarily invest proceeds from municipal bond sales.

The Treasury said the debt ceiling is set to be reached on Dec. 31, but analysts believe extraordinary measures can stave that date off into February.

We could, of course, avoid hitting the debt ceiling by reining in government spending.

Bryan Preston has been a leading conservative blogger and opinionator since founding his first blog in 2001. Bryan is a military veteran, worked for NASA, was a founding blogger and producer at Hot Air, was producer of the Laura Ingraham Show and, most recently before joining PJM, was Communications Director of the Republican Party of Texas.
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