Two weeks ago, Tim Geithner warned we'll hit the debt ceiling on 5/16. What happens then?

[OmahaBlueDog]

Geithner warns U.S. to hit debt ceiling by May 16
http://www.reuters.com/article/2011/04/04/us-usa-budget-debt-idUSTRE7335BY20110404

Based on estimates last year from the International Monetary Fund, U.S. debt as measured against the size of the economy is higher than in France, Canada and Germany, but less than in Italy and Japan

Geithner said that while the debt ceiling projections could change, the Obama administration does not believe they could change in a way that would give Congress more time to raise the debt ceiling. He said Treasury would provide updated projections in early May.

*******

[ejpoeta]

1. hey, when was the date for the end of the world? maybe they are linked.

[Motown_Johnny]

2. The Corporate Overlords won't let the (R)s put the country into default

unless they can get another bail out because of it

[bullimiami]

3. stop paying republicans, corporations and defense contractors, and shut down the wars.

Instant surplus.

[Skidmore]

4. Other: Teabaggers spontaneously combust.