Wednesday, May 4, 2011
Next Monday the debt ceiling debate will kick off the return of the Congress - which has had about four weeks off to celebrate Easter. The issue has been buried as this week has been spent in celebration over the death of Bin Laden. However, it is expected that the temporary unity will quickly dissolve as Congressional leaders stall the inevitable yes vote on raising the ceiling in hope for as much concessions as possible. Though we can wish for a real stand to be made at this juncture, there will probably be a minuscule reduction in projected spending and, of course, continued debt.