WASHINGTON - The Treasury Department says the United States could face the prospect of not being able to pay its bills in late May unless Congress raises the government's borrowing authority, now capped at $6.4 trillion.
Treasury's debt managers have taken a number of steps since February to prevent the government from defaulting on the national debt, but "on current projections, the extraordinary measures taken since Feb. 20, 2003, will only be adequate to meet the government's needs until the latter half of May," said a statement released Tuesday.
Fasten your seatbealts, it's gonna be bumpy ride, especially as those highly successful terror-fighters in the administration turn their laser-beam aim on the economy. What are they going to do, invade a blue state?
