In the letter, Geithner writes that the ceiling will be hit on December 31, and even though the Treasury Department will be able to undertake "extraordinary measures" to make sure the U.S. won't experience the full effect of hitting the ceiling, there's an unspecified and unknown amount of time before a government shutdown...
I say we let Obama raise the debt ceiling and raise everyone's taxes tenfold along with it. How else is Obama going to look like Mr. Popular on the Letterman Show if he ain't passing out "free" computers and TVs along with cellphones? Scrap that. I want a new, "free" car instead. I want to drive a great big Cadillac - gangster whitewalls TV antenna in the back - with "free" gasoline ooh ooh ooh - Just be thankful for what you've got - Diamonds in the back, sunroof top, diggin the scene with "free" gasoline. But back to reality. Owebummer took over with gasoline at $1.82 per gallon and it's been too high for too damn long under him, as well the unemployment rate.
Treasury Secretary Timothy Geithner wrote a letter to Congress today that the federal government will once more hit the statutory debt ceiling on Monday, allowing an unspecified amount of time before the government will have to shut down crucial operations merely to service its debt.
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