Rather than passing a fiscally responsible budget, Congress has voted to temporarily suspend the debt limit. I'm not terribly shocked - in fact, I expected it - but I really wish that Congress had done something to actually solve the problem....The legislation would temporarily suspend the $16.4 trillion limit on federal borrowing, which experts say would allow the government to borrow about $450 billion to meet interest payments and obligations like Social Security benefits and government salaries.
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The deadline for Congress to act again to prevent default would likely not come until August, according to calculations by the Bipartisan Policy Center, a Washington-based think tank...
Thursday, January 31, 2013
Kicking the can down the road... again
From Fox:
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