When Is The Drop-Dead Date???
The drop-dead date is the date when the nation’s debt ceiling will be breached. The date seems to change frequently.
Recently, the Treasury Department said the drop-dead date is August 2nd. On KFYO, Congressman Randy Neugebauer was asked if anyone really knows when the drop-dead date is.
“That’s a great question,” Neugebauer said. “I think the important thing here is -- what the goal ought to be -- is not when that drop-dead date is, but we’re running these deficits right now. So we need to get engaged in this process, and get to cutting and capping and reforming, so that we can begin to reduce these deficits.
Neugebauer said the driving force regarding the national debt should not be an arbitrary date, but instead, the fact that we have a big spending problem.