Monday, May 16, 2011
U.S. Credit Card Maxed Out
The government has hit its $14.3 trillion debt limit, and a vote on raising our debt ceiling is needed by August 2. In the meantime, Geithner is starting to raid government pension funds in order to keep everyday operations of the government afloat. To make things even more dicey, House Republicans say they won't vote to raise the ceiling unless there are spending cuts that are greater than the debt increase to go along with it. Oh, and I don't think those pension funds involve our congresspeople, either.