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Raise the debt limit - with or without Congress
My latest Detroit News blog post. Feel free to join the discussion in the comments section. 
We don’t have time for this.
In a hissy fit of epic proportions, a faction of the Republican Party forced the first federal shutdown in 17 years in an attempt to halt the Affordable Care Act (ACA). An up-or-down vote in the U.S. House could end the shutdown today, but Speaker of the House John Boehner, R-Ohio, has refused to hold that vote. His fear of the GOP Tea Party wing is that great.
That’s bad. But it gets worse. This might not be the most serious crisis we will face this month.
The government estimates it will reach its legal borrowing limit on Oct. 17. Unless Congress raises the debt ceiling (something it has done routinely for decades), the government would find itself unable to pay for spending Congress has already approved. That has never happened before. The effects could be severe.
MORE HERE: http://blogs.detroitnews.com/politics/2013/10/04/raise-debt-limit-without-congress/
In a hissy fit of epic proportions, a faction of the Republican Party forced the first federal shutdown in 17 years in an attempt to halt the Affordable Care Act (ACA). An up-or-down vote in the U.S. House could end the shutdown today, but Speaker of the House John Boehner, R-Ohio, has refused to hold that vote. His fear of the GOP Tea Party wing is that great.
That’s bad. But it gets worse. This might not be the most serious crisis we will face this month.
The government estimates it will reach its legal borrowing limit on Oct. 17. Unless Congress raises the debt ceiling (something it has done routinely for decades), the government would find itself unable to pay for spending Congress has already approved. That has never happened before. The effects could be severe.
MORE HERE: http://blogs.detroitnews.com/politics/2013/10/04/raise-debt-limit-without-congress/