The Treasury Department confirms that the debt ceiling will be breached today, setting in motion...

|By:, SA News Editor

The Treasury Department confirms that the debt ceiling will be breached today, setting in motion an 11-week scramble to avoid a default. Obama must not let Republicans hold the economy hostage over raising the debt ceiling, Paul Krugman says, but he "can’t call the extortionists’ bluff unless he’s willing to confront them," which Krugman worries the president seems unwilling to do.