Debt Ceiling Suspended: US Surpasses $16.7 Trillion

[natsb88]

Washington has suspended the debt ceiling, setting a date, and not a concrete dollar sum as a deadline, an unprecedented first in US history.

Citing ‘extraordinary measures’, the US Treasury has further delayed tackling America’s debt, and will wait until Labor Day, September 2nd, to revisit the burgeoning crisis. The ceiling has been lifted, and the Treasury has promised it will keep cash pumping into government spending programs beyond the debt limit through a series of emergency cash tools.

More: http://rt.com/business/us-debt-ceiling-suspended--510/

[Hawkeye]

That's the way to deal with things when you have a problem! Just ignore it and keep doing what created the problem in the first place. I simply cannot grasp what the people in Washington are thinking. Wait... "people in Washington thinking." Never mind.

Actually, I think they do think, but their thinking never gets beyond "what can I do to ensure my election in the next cycle." Ridiculous.