Debt ceiling sky not falling

posted by
June 5, 2011
Orange County Register
by Charles Krauthammer  
Posted in Commentary, PND Commentary

"Treasury Secretary Tim Geithner warns that failure to raise the limit would be disastrous. In that he is correct. But he is disingenuous when he suggests that we must do so by Aug. 2 or the sky falls. There is no drop-dead date. ... What scares Geithner is not that we won't be able to pay our creditors but that his Treasury won't be able to continue spending the obscene amounts of money (about $120 billion a month) it doesn't have and will (temporarily) be unable to borrow." (06/03/11)

http://tinyurl.com/6yzcu29  

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