US government warns Congress its funds are running out

[ProSense]

Bush administration's business savvy at work:

US government warns Congress its funds are running out

1 hour, 5 minutes ago

WASHINGTON (AFP) - The US government issued an urgent warning to Congress to raise the national debt limit by mid-March or face a shutdown of federal operations.

In a letter to House of Representatives Speaker Dennis Hastert, Treasury Secretary John Snow said he was already being forced to stop new investments by a fund that pays out pensions and disability benefits to civil servants.

"I must advise you that the Treasury has now taken all prudent and legal actions to avoid reaching the statutory debt limit," Snow wrote in his letter, which was copied to all senior Republican and Democratic members of Congress.

Snip...

"I know that you share the president's and my commitment to maintaining the full faith and credit of the US government."

Snip...

The Republican-led Congress last voted to increase the debt limit in mid-November 2004, despite opposition from Democrats who demanded the free-spending federal government tighten its belt instead.

more...

http://news.yahoo.com/s/afp/20060306/pl_afp/uspoliticseconomy_060306181324

Snow job!

[MadMaddie]

1. If every American citizen could raise their debt limit....

we could all continue to buy crappy foreign goods....:sarcasm:

[nadinbrzezinski]

2. I wonder if my investermne specialists

is now finally understanding why I told him to sell ALL US bonds and get me into Gold..... the day after they stole the election in 2004

[Virginia Dare]

3. Mission Accomplished...eom

[politicaholic]

4. We're losing her! Is there a fiscal conservative in the house? *crickets*

When will they learn that supply side economics and War make odd deficit babies.

No wonder there's such a big outcry to stop abortion, they need more kids to pay for their neo-con experiment gone wrong...so very wrong.

[JohnnyRingo]

5. Damn "untax and spend" republicans.

The republicans can now look around the table at each other, shrug their shoulders, and claim it's another mess that's been dropped in their laps by unknown forces.

like:

the war
nuclear proliferation
corporate accounting fraud
campaign finance fraud
global warming
rising health care costs
skyrocketing energy costs

It's just one bit of bad luck after another and no one to blame.
I bet they miss Clinton.