Geithner says Congress must raise debt limit

This is the kind of thinking that obama relies on to make his stupid decisions. No choice but to borrow more money. It's the easy way out, that's for sure. I know that there are millions of people in this Country who have no clue what kind of financial trouble we are in, and it seems like most of them are in the obama administration...

From Reuters

Treasury Secretary timothy geithner said on Wednesday that there was no alternative except for Congress to raise the debt ceiling so that the government can keep borrowing.

"Congress has to do it. There's no alternative," he said in response to questions at a House of Representatives appropriations subcommittee.

He repeated a warning that it would be have "catastrophic" consequences for the economy if the debt ceiling was not raised and the country defaulted on its debt obligations.