Treasury official: Obama to ask for debt limit increase

posted by
December 27, 2011
Reuters    
Posted in News

"The White House plans to ask Congress by the end of the week for an increase in the government's debt ceiling to allow the United States to pay its bills on time, according to a senior Treasury Department official on Tuesday. ... Under the agreement struck in August during the showdown over the government's debt limit, the cap is automatically raised unless Congress votes to block the debt-ceiling extension." [editor's note: Congress has 15 days to say "no" -- and they're in recess until January 17th - TLK] (12/27/11)

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