Wednesday, April 30, 2003
Bash says "it's not my default".
Proof that they grown-ups are back in charge.
The Treasury Department says the United States could face the prospect of not being able to pay its bills in late May unless Congress raises the government's borrowing authority, now capped at $6.4 trillion.
Treasury's debt managers have taken a number of steps since February to prevent the government from defaulting on the national debt, but "on current projections, the extraordinary measures taken since Feb. 20, 2003, will only be adequate to meet the government's needs until the latter half of May," said a statement released Tuesday.
After that - absent a boost in the government's borrowing authority by Congress - Treasury would breach the current $6.4 trillion ceiling on the national debt
Let's see.....the government can't pay their bills.....hmmmmm....that means they need to bring in more money to fulfill their obligations.
Time for a tax cut.