Watch Donald Trump Jr. Shut Down an MSNBC Reporter on the Convention Floor
Trump Assassination Attempt Highlights Another Glaring Chapter of Failure for Biden
Teamsters President Delivers Fiery, 'Drain the Swamp' Address at Republican Convention
We Have Another Major Update on Trump Assassination Attempt
I’m Not Interested In Unifying With Leftists Right Now
Trump’s Near Miss — The Day George Washington’s Words Came To Life
An Assassination Attempt Was Inevitable
Trump Rewrites Republican Convention Speech to Focus on Unity, Not Biden
Tone Down the Rhetoric
The Republican Party Platform is Good
Trial Lawyers Are the Only Winners From Arbitration Restrictions
Half an Inch From a Civil Crisis
DEI Is Transitioning to Die
The Riots That Never Happened
KJP Warns Biden Won't Change His Rhetoric, as Biden Won't Even Admit He's...
Tipsheet

Geithner Asks Congress to Increase Federal Debt Limit

The Wall Street Journal reported this weekend:

Washington -- U.S. Treasury Secretary Timothy Geithner asked Congress to increase the $12.1 trillion debt limit on Friday, saying it is "critically important" that they act in the next two months.

Mr. Geithner, in a letter to U.S. lawmakers, said that the Treasury projects that the current debt limit could be reached as early mid-October. Increasing the limit is important to instilling confidence in global investors, Mr. Geithner said.

The Treasury didn't request a specific increase in the letter.

"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," Mr. Geithner said in a letter to lawmakers.

Mr. Geithner said the that it is "clearly a moment in our history" that requires support from both Democrats and Republicans for the increase.

"Congress has never failed to raise the debt limit when necessary," Mr. Geithner said.

The non-partisan Congressional Budget Office said Thursday the federal government's budget deficit reached $1.3 trillion through the first ten months of fiscal 2009, on track to reach a record high of $1.8 trillion for the 12-month period.

Advertisement

Sponsored

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement