Treasury exhausts options for freeing up room under debt limit

[Chris_]

Treasury exhausts options for freeing up room under debt limit
^{By Peter Schroeder    - 07/15/11 04:25 PM ET}

The Treasury Department announced Friday it has exhausted its options to free up room under the national debt limit.

The administration is suspending reinvestments in an emergency reserve fund called the Exchange Stabilization Fund —  its fourth and final "extraordinary action" to free up cash under the $14.3 trillion debt ceiling.

According to the Treasury, that means the government is out of moves to navigate around the debt limit, leaving the only option a lawmaker-approved boost to that limit.

The Hill

I have an idea... STOP SPENDING MONEY WE DON'T HAVE.

Here's another good idea:

Something highly exciting happened on the Senate floor yesterday. Ten different GOP senators took to the podium to say they’ll vote to block any and all spending bills until Senate Democrats agree to produce a budget.

Hot Air

[Chris_]

The Great Debt Ceiling Gambit

Obama wants an increase in the debt limit of $2.4 trillion, which would provide the government with enough money to last through the end of 2012. For him, there are enormous risks in gaining the authority to borrow this much money and adding to a national debt of more than $14 trillion. And the $2.4 trillion would come on top of nearly $4 trillion the president has already added in debt since he took office. That’s $6 trillion-plus in new debt in one presidential term.

Weekly Standard

[thundley4]

Weekly Standard

Obama wants enough money to last past the elections so that this mess doesn't resurface during the pre election period.  I say give no more than 1 year, and put this back in the public eye again.