We now have an official debt limit deadline. Today, Treasury Secretary Jack Lew sent Congress a letter informing them there will not be enough cash on hand to pay all our bills starting October 17. That is the date by which Congress needs to raise the debt limit or risk causing significant financial damage. From [...]
|By: Jane Hamsher Friday July 22, 2011 7:28 am|
The headline is somewhat misleading because nobody really knows the state of the debt ceiling debate as far as I can tell. It’s unwinding in the midst of more chaos than anything I can recall on Capitol Hill. The complete leadership vacuum is stunning.