Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
October 1, 2014

Chart of the Day

 Chart of the Day

Walter Kurtz looks at precisely when the Treasury Department will lack the money to pay federal bills after the October 17 deadline to raise the debt ceiling.

“The answer is – less than a couple of weeks… Amazingly, there seem to be countless Americans who are rooting for this to happen. Emails are pouring in arguing that a US default in fact is a good thing. They really believe this will magically solve the US fiscal deficit problem and/or somehow ‘punish’ the Obama administration.”

“They don’t seem to realize that this is akin to wishing for another 2008, while US government deficit would only worsen as a result (with tax revenue collapsing while entitlement liabilities growing just as fast).”

  • DemInExile

    The GOP has adopted the theology of the Rapture when thinking about the debt. Bring on the end days, and only the wicked (takers) will suffer as the old corrupt order perishes while the good (makers) will prosper in the new untarnished world order.

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