Geithner says U.S. could hit debt limit by March 31

Kicking the can down the road requires more debt. It is foolish to assume that this debt will be repaid in anything by devalued dollars.

Headline: Geithner says U.S. could hit debt limit by March 31

The United States may hit the legal limit on its ability to borrow by March 31 and faces serious consequences unless Congress acts by then to raise it, Treasury Secretary Timothy Geithner said on Thursday.

"Even a short-term or limited default would have catastrophic economic consequences that would last for decades," Geithner said in a letter to U.S. Senate Majority leader Harry Reid that was issued by Treasury.

Source: finance.yahoo.com