http://cbs.marketwatch.com/news/archivedStory.asp?archive=true&dist=ArchiveSplash&siteid=mkt
...
Treasury acting to avoid hitting debt limit
WASHINGTON (CBS.MW) -- The Treasury Department has begun taking special actions so the federal government would avoid hitting the legally mandated debt ceiling of $7.38 trillion, Treasury Secretary John Snow said.
In a letter to Senate Majority Leader Bill Frist, R-Tenn., Snow called on Congress "to increase the debt limit by mid-November, at which time all of our previously used prudent and legal actions to avoid breaching the statutory debt limit will be exhausted."...
This is disturbingly close to this Onion classic:
U.S. Takes Out Debt-Consolidation Loan
WASHINGTON, DC--Plagued by late fees, high interest rates, and harassing creditors, the U.S. took out a debt-consolidation loan Monday, combining the nation's $6.1 trillion debt into a single, easy monthly payment.
"My fellow Americans, we have just taken the first step toward regaining control of our finances," said President Bush at a press conference. "Thanks to a joint arrangement between the Treasury Department, the Federal Reserve, and E-Z Debt Services of Baltimore, we are finally on our way to freedom from debt."
Even more disturbing, note the difference in the two dollar amounts--the Onion article was from just 1.5 years ago.