The Obama administration will begin to tap federal retiree programs to help fund operations after the government lost its ability Monday to borrow more money from the public.The government is, of course, required to pay it back. Until Congress says otherwise...
Treasury Secretary Timothy F. Geithner, who has already suspended a program that helps state and local government manage their finances, will begin to borrow from retirement funds for federal workers.
Ultimately, the debt limit will have to be raised, but the Republicans damn well better drive a hard bargain to permit it.
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