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.
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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.
“We could, of course, avoid hitting the debt ceiling by reining in government spending.”
Ha Ha Ha, you’re funny. Oh, you were serious about that?
Yeah, he is serious that we could do that. However, I stand a greater chance of sprouting long ears, a bushy tail and being called Easter Bunny than that happening (I already kind of look like Santa Claus but that’s a different story…). 51% just voted to keep the good times rolling no matter what the cost and the flunkies in DC will not let anyone down!
Too bad the gas credit card for Air Force One wasn’t declined, and the big “O” had to stay in Hawaii.
It would be a great visual – the prez golfing while gov’t employees were furloughed.
Not to worry.
When it all comes crashing down, your faithful public servants will still do quite well for themselves.