As Instapundit said, OOPS. Debt ceiling limit looms months sooner than expected, during fall campaign
How could that happen?
A new study released on Friday now suggests that slimmer federal tax receipts than anticipated from the sluggish Obama economy along with continued abundant spending by the Obama administration will likely move the date of the next debt deadline considerably forward so that it comes during this fall's presidential election, with political debate beginning even earlier.Oh. Yeah. That "continued abundant spending" thing.
But don't get excited, conservatives. This may strike you as a liability for our spendaholic president. But think for a second about the GOP's unlimited capacity to let things blow up in their faces.
Another interesting bit from Andrew Malcolm's story:
Much of the timing depends on the federal government's tax harvest come April 15 and beyond, including business taxes. They could be severely affected if, as expected, this year's prematurely rising gasoline prices slow consumer and business spending, as well as confidence.What's it up to in your area? I saw $3.79 in my neighborhood this morning.
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