PBS NewsHour: Political Checklist: We've Hit the Debt Ceiling, Now What?

May 16, 2011

In this week's edition of the Political Checklist, Gwen Ifill and David Chalian examine why, if the nation has hit its limit for borrowing, has there been no outcry from the markets or the political system? Gwen suggests that Wall Street is well-aware that Congress is known for making politics out of the debt ceiling increase, but always raises the limit before it is too late. Treasury Secretary Timothy Geithner said he can take extra measures and ensure that the government can borrow until August 2.