Debt Ceiling Solution: Stop borrowing from the FED!!!
WASHINGTON DC | Is the FED the Key Factor Behind the Debt Limit? Treasury Secretary Jacob J. Lew is calling on Congress to raise the debt limit in February. The Treasury Department now expects the debt limit "endgame" to arrive in late February, rather than in March. To some observers, this is rather surprising, since just last week, Senate Majority Leader Harry Reid indicated the nation wasn't likely to hit the debt ceiling until May. Lew wrote in a letter to Congressional leaders that "the large obligations of the government that occur in the month of February" will soon put a strain on the government. Lew also wrote: "Protecting the full faith and credit of the United States is the responsibility of Congress, because only Congress can extend the nation's borrowing authority. No Congress in our history has failed to meet that responsibility. I respectfully urge Congress to provide certainty and stability to the economy and financial markets by acting...