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The U.S. will hit its $16.4T statutory debt ceiling on Dec. 31, Tim Geither warns in a letter to...

The U.S. will hit its $16.4T statutory debt ceiling on Dec. 31, Tim Geither warns in a letter to Harry Reid. Geithner says the Treasury will create $200B in "headroom" by means of "extraordinary measures," which he says would last the government two months in "normal circumstances."
Comments (17)
  • wyostocks
    , contributor
    Comments (7653) | Send Message
     
    His and Obama's incompetence know no depths.
    I just hope the republicans don't cave in.
    26 Dec 2012, 04:48 PM Reply Like
  • kmi
    , contributor
    Comments (3985) | Send Message
     
    There will be no 'caving.'

     

    Republicans, the supposed 'majority' of Congress, are too fragmented in order to reach consensus. With the Republican party breaking down into separate and antagonist factions, and with Democrats unable to get anything through Congress as the minority party, it is extremely unlikely any deal is reached.

     

    The politics of the country have gone out the window as the extremists on both ends have taken control.

     

    I expect no deal.
    26 Dec 2012, 05:12 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    Incompetence is correct...but yet he will never be held accountable for anything...never...and unfortunately the next President will be handed trash...and will be held accountable...we have two roads...live within our means...or print until no one accepts our dollars anymore...I think we will print...a politicians cannot cut a budget..a social program...but an economic collapse is not "their" fault...
    26 Dec 2012, 04:53 PM Reply Like
  • Lakeaffect
    , contributor
    Comments (986) | Send Message
     
    I ain't worried, Hillary can handle it.
    26 Dec 2012, 05:02 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    Unfreaking real. These guys continually underestimate the trajectory of the debt and the timing.

     

    Anyone who has confidence in the clowns in WDC is a fool. I cannot think of a better word.
    26 Dec 2012, 04:58 PM Reply Like
  • Hubert Biagi
    , contributor
    Comments (690) | Send Message
     
    Four years without a budget, and Obama is just now getting directly involved with negotiations... boggles the mind.
    26 Dec 2012, 04:59 PM Reply Like
  • calvinator
    , contributor
    Comments (3) | Send Message
     
    I'm still reeling from the lost opportunity to elect a man of exceptional character to the White House. No President gets everything done, even in two terms. But this gang of goons and thugs from Chicago is bad for America. A huge chunk of voters don't realize that what's good for America is good for Americans. Now the Dems have a huge bloc of voters bought by Dems and paid for by entrepreneurs like myself (17 employees, $3M+ in taxes). The 'fiscal cliff' is a small event compared to the 'turning point' we passed in November. Truly scary.
    27 Dec 2012, 04:12 AM Reply Like
  • airsleuth1
    , contributor
    Comments (8) | Send Message
     
    How about cutting the free phones.
    26 Dec 2012, 05:00 PM Reply Like
  • mugwomp
    , contributor
    Comments (117) | Send Message
     
    Bush didn't cut them, why would Obama?
    27 Dec 2012, 12:15 AM Reply Like
  • deercreekvols
    , contributor
    Comments (5161) | Send Message
     
    Did he really send a letter?

     

    Who sends letters anymore?
    26 Dec 2012, 05:05 PM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
     
    People doing CYA.
    26 Dec 2012, 05:17 PM Reply Like
  • SoldHigh
    , contributor
    Comments (1003) | Send Message
     
    The majority who voted for Obama will get to reap the fruit of their incompetent choice.

     

    Unfortunately, they'll take much of the country down with them.
    26 Dec 2012, 05:09 PM Reply Like
  • Joe Eifrid
    , contributor
    Comments (336) | Send Message
     
    Isn't that convenient...Dec 31st, the deadline day for the fiscal cliff. Now they can toss that into the negotiations.
    26 Dec 2012, 05:13 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    It really is amazing...just amazing...what we have running this country..Boggles the mind..and they demand that we work and send our money to them....that is even more incredible
    26 Dec 2012, 05:28 PM Reply Like
  • calvinator
    , contributor
    Comments (3) | Send Message
     
    Get used to it, Mr. Youngman. The catastrophe is just beginning.
    27 Dec 2012, 04:12 AM Reply Like
  • Sponge25
    , contributor
    Comment (1) | Send Message
     
    Downgrade here we come
    27 Dec 2012, 03:59 AM Reply Like
  • Ray - Kitchener
    , contributor
    Comments (74) | Send Message
     
    You guys should move to Canada and bring your jobs. We'll take you. No debt ceiling or fiscal cliff here. Mind you - the US will take us all down together.
    27 Dec 2012, 09:59 AM Reply Like
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