"WASHINGTON Nov 3, 2004 -- The Bush administration announced Wednesday that it will run out of maneuvering room to manage the government's massive borrowing needs in two weeks, putting more pressure on Congress to raise the debt ceiling when it convenes for a special post-election session.
Treasury Department officials announced that they will be able to conduct a scheduled series of debt auctions next week to raise $51 billion. However, an auction of four-week Treasury bills due to be completed on Nov. 18 will have to be postponed unless Congress acts before then to raise the debt ceiling.
"Due to debt limit constraints, we currently do not have the capacity to settle our four-week bill auction scheduled to settle on Nov. 18," Timothy Bitsberger, acting assistant Treasury secretary for financial markets, said in a statement."
http://abcnews.go.com/Politics/wireStory?id=223596
Jeez. Ok, so no surprise, but pretty crappy nonetheless. My guess is that a lot of gardbage is going to start leaking from the USS Republican Congress this month. It's our job to stay on the ball, document everything, and raise as big a stink about the BS as we can. If the 2006 election is anything like the 2004 election, they'll do a lot of bs the first year, then try to play moderates the 2nd year when running for re-elect. We need to make the stink now, and have it stick till the next election.