Timing: Next Debt Limit Scare Will Show Up Around Halloween
The United States might not hit the statutory limit on its debt until October, a policy research group said on Friday, giving Republican lawmakers more time to extract spending cuts from the Obama administration in return for extending the borrowing cap.
After giving into Democratic demands in December to raise taxes and later working with them to avoid a government shutdown, Republicans have been gearing up to use the debt limit as leverage to seek fresh budget cuts and changes to the tax code.
This gives both the president and GOP leadership extra time to take some acting classes before providing us with more insufferable posturing and hyperbole which inevitably leads to the same conclusion: a rousing kicking of the can down the road.
The beginning of the year apocalypse rhetoric from Washington is still affecting consumers and it would be nice to think that our elected representatives have learned something from that, but we've been Charlie Brown to their Lucy for far too long.
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