From CNBC:
Lew to Congress: US hits debt limit on March 16, needs to be raised ASAP
Unless Congress takes action, the U.S. will hit its debt limit on Mar. 16, but would begin taking "extraordinary measures" to finance the government on a temporary basis, according to the U.S. Treasury.
In a Friday morning letter to House Speaker John Boehner and other House and Senate leaders, Treasury Secretary Jack Lew said that his office will be forced to suspend the issuance of State and Local Government Series securities on Mar. 13 unless the debt limit is decreased.
"Accordingly, I respectfully ask Congress to raise the debt limit as soon as possible," Lew wrote in his letter.
How about we just stop spending so damn much money on idiotic things. Cut back the IRS, EPA and several departments. Our foreign aid spending is over the top - we are giving money to nations who are not our friends. Cut taxes and grow the economy so more people will be back in the workforce.
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