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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (83674)	6/23/2002 9:26:23 PM
From: Smart_Money	Read Replies (1) \| Respond to of 99280

"The Bush administration says congressional action is needed on the debt limit by Friday, when the government must credit an interest payment of $67 billion to Social Security and other trust funds. "We will lift it when ... we have the votes to lift it," House Speaker Dennis Hastert said. "Absent that, we will lift if we are in a dire situation." The Senate approved a $450 billion increase in the debit limit on June 11. That would be enough to carry the government to December, after November's elections for control of Congress, or beyond. But facing nearly unanimous Democratic opposition, House GOP leaders say they lack the votes to increase the ceiling. Democrats blame the need to raise the limit, the first increase in five years, on President Bush's 10-year, $1.35 trillion tax cut and say they will not bail out the GOP." newsday.com