Warning: You are using a browser that does not support angularJS. Some site functionality will not be available to you. Please consider updating to a newer version.
FEE.org does not currently support Internet Explorer. Please use a supported browser such as Google Chrome or Mozilla Firefox.

Geithner Prepares to Cope with Debt Limit Expiration

“The White House is warning that catastrophe will strike if Congress fails to raise the limit on the national debt: With too little cash to pay creditors, the U.S. government would default. Interest rates would skyrocket. And the economic recovery would collapse. But behind the scenes, Treasury Secretary Timothy F. Geithner has already begun juggling the books to conserve cash, draining a special account at the Federal Reserve.” (Washington Post)

Actually total debt busted the limit two weeks ago, but not everything is counted — more Washington games.

FEE Timely Classic
“Does Government Always Have to Grow?” by Stephen Davies

See what we've been working on.   Network with FEE's sponsors and donors at FEEcon this June. Visit FEEcon.org.

Related Articles

{{relArticle.title}}

{{relArticle.author}} - {{relArticle.pub_date | date : 'MMMM dd, yyyy'}} {{relArticle.author}} - {{relArticle.pub_date | date : 'MMMM dd, yyyy'}}
{{article.BodyText}}

SIGN UP FOR FEE DAILY EMAIL