Tornado Alley (PROG)

[fastlizzy]

Geithner: U.S. says debt limit hike not partisan issue

http://news.yahoo.com/geithner-u-says-debt-limit-hike-not-partisan-214336693.html;_ylt=AneCGJClqYsiYzJky3zfNPqHP5Z4

Geithner warned that would have "painful implications" for everyone from members of the armed forces to Social Security recipients and small business owners.

Geithner said the idea of a "debt ceiling budget" to let the government keep operating for some indefinite period was "unworkable."

Treasury already has 40 cents of every dollar spent so such a proposal could leave it in a position where it had to cut about 40 percent of all government payments, he said.