House Republicans voted against raising the debt ceiling today. Whoopee.
They want to cut spending, other than the wars of course. Oh yeah, and that whole Medicare thing, since that sort of affects much of their base constituentcy. And taxing corporations is naturally too far fetched.
Hmmm. Where are we gonna get some more money....
Polls show the public does not support a further increase in borrowing authority even as the Treasury Department scrambles to avoid a default that could push the country back into recession and rattle markets across the globe.
The Treasury Department has been tapping alternate funding sources, such as federal employee pensions, to cover its obligations since the debt limit was reached on May 16, but has warned it will run out of options if Congress does not act by August 2.
And that won't even get us through the summer.
It'll probably buy a couple of lucky bankstas some swanky greek islands though.