Is that all you have to do when you can’t quite balance the budget? Just change the law!
Treasury Secretary John Snow notified Congress on Monday that the administration has now taken "all prudent and legal actions," including tapping certain government retirement funds, to keep from hitting the $8.2 trillion national debt limit. Snow urged lawmakers to pass a new debt ceiling immediately to avoid the nation's first-ever default on its obligations. Treasury officials, briefing congressional aides last week, said that the government will run out of maneuvering room to keep from exceeding the current limit during the week of March 20.
“Prudent”? Not on your life!
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