Posted by: Christine Johnson | August 8, 2009

Geithner asks Congress for higher U.S. debt limit | Reuters

Geithner asks Congress for higher U.S. debt limit (Reuters):

“WASHINGTON (Reuters) – U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.

‘It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations,’ Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters.”

um … if things are so bad that you’re in debt, are you really meeting your obligations, or just putting them off?
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