Treasury expects to reach debt limit on Thursday

SJ Mercury News ^ | 2/19/03 | AP - Washington

[NormsRevenge]

WASHINGTON (AP) - Expecting to reach the national debt ceiling of $5.6 trillion on Thursday, the government took steps Wednesday to allow federal borrowing to continue while Congress considers raising the debt limit.

Treasury Secretary John Snow wrote congressional leaders urging quick action to raise the ceiling, though he did not recommend a new limit. Treasury officials saying they wanted to leave that decision up to lawmakers.

[jz638]

Alan Greenspan said Congress should consider doing away with the debt limit, saying it ``has never in my judgment been successful in doing what it is supposed to have been doing, namely constrain spending.''

what was supposed to constrain spending again, the debt limit or congress?

[BlackJack]

Is that number wrong? 5.6
The limit is 6.4 trillion I think?

[freeper12]

spend spend spend and spend some more yipee....the grandchildren can pay for it....good thing they aren't old enough to vote.