Posted By The P/Oed Patriot
Last month the debt ceiling was raised to $16.4 trillion without much fanfare.
Today, also without much fanfare, according to the Wall Street Journal, a senior Treasury Official said that after that increase last month, the debt ceiling will not have to be raised again until after the upcoming Presidential elections:
“A senior Treasury Department official said Wednesday she expects the federal debt ceiling won’t have to be raised again ahead of November’s presidential election.
“Our expectation is that we will get close to the end of the year with the current room under the debt ceiling,” Assistant Secretary for Financial Markets Mary Miller told reporters. “We do know that should we fall short we can still use extraordinary measures…to get past the election.”
What does this mean?
It means that President Obama has just avoided having to talk about the one thing that is most damaging to his re-election campaign, because the out of control spending being done by his administration has now been officially swept under the rug until after the election.
I’m willing to bet Obama is getting a good laugh out of this one….
Problem is, I don’t see the humor.
