The government has ways to stay below that ceiling for a few months, giving lawmakers a grace period. Treasury Secretary Timothy Geithner has said the deadline is early 2013.
But the recent slowdown in economic growth bodes poorly for federal tax receipts. Any pickup in the rate of debt accumulation could pull forward that deadline into the super-charged environment of a presidential election.
If the government is seen as dysfunctional in another debt standoff, the public will likely hold President Obama more liable than Republicans...
Let's just hope Boehner and the boys can avoid snatching defeat from the jaws of victory!
