Column: Digging the debt hole
Posted on 19 April 2012.
A few weeks ago, U.S. Treasury Secretary Timothy Geithner made a statement during a congressional hearing that ought to have made us all a little apprehensive. South Carolina Republican Representative Trey Gowdy had asked Geithner to estimate how much the debt ceiling would be raised if the U.S. government had one last opportunity to do so. Geithner responded that the debt ceiling would need to be raised by “a lot” and that the amount would “make you feel uncomfortable.”