Politics, Sex, Religion, and all those impolite Human Conversations...

My Photo
Location: Oaksterdam, California

Wednesday, July 14, 2004

October Surprise...

No, not the capture of Osama Bin Leftalone.

Rather the Congress is asked to raise the ceiling of debt once again-
U.S. Treasury says likely to hit debt limit in Oct.
WASHINGTON, July 14 (Reuters) - The U.S. government will likely reach its federal debt limit in early October, a top Treasury official said in written remarks, giving fresh details on when the politically sensitive ceiling will need to be raised.

The $7.384 trillion debt limit may need attention before the November election, Timothy Bitsberger, Treasury's nominee for assistant secretary for financial markets, said in a document obtained by Reuters on Wednesday.

"It appears very likely the limit will be reached sometime in late September or October, with the most likely date being early October," Bitsberger said in the submission for the record after his Senate confirmation hearing last week.(If numbers turn you on, read the rest)

Democrats blame President George W. Bush's tax cuts...