The government needs money fast. The problem is that the bank vaults are closed for the time being, and unless they are opened by early March, America could face a cash crunch.
The intense battle between Congress and President Barack Obama, who is requesting an immediate increase to the current national debt limit of $16.4 trillion, is ongoing, but it needs to be resolved soon, as the current national debt subject to the limit is $16.39 trillion. Obama is threatening possible delays to Social Security and veterans' benefits, along with an impact on the government payroll, if the cash doesn't come. (Source: Lee, C.E., and Hook, J., "Obama Escalates Debt Fight," Wall Street Journal,January 14, 2013.)