Debt ceiling fix needs to include plan for austerity
The U.S. government surpassed its $14.294 trillion debt ceiling Monday, and the Treasury Department began taking steps to deal with the problem, including suspending planned transfers into public pension plans.
Treasury Secretary Timothy Geithner sent a letter Monday to congressional leaders, saying unless the Congress acts by Aug. 2 to increase the debt ceiling, the government will default on its debts, something it has never done in recent history.
Are you a newspaper subscriber but you don't have a Digital Access account yet? https://secure.forumcomm.com/?publisher_ID=40&event=subscriber/lookup.
You will need your subscription account number and phone number. Not sure if you have an account? Email us at firstname.lastname@example.org and we can help you.