“It’s More Like a Debt Sun Roof”
This was the reaction last hour by Glenn Beck’s producer Stu upon being told that Treasury Secretary Timothy Geithner had requested (on Friday – do you suppose they were trying to minimize media attention?) that Congress raise the national debt ceiling.
It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations
As Daily Markets Kenneth Bell dryly points out
So, if I’ve maxed out my credit card it only makes sense that my credit card company further boost my credit limit so that my other creditors can remain confident in my debt-paying ability.