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The Week Ahead in Congress

May 16, 2011 - by Donny Shaw

After all the non-serious legislating the House of Representatives accomplished last week -- by that I mean passing bills that were designed purely for politics, not affecting policy -- they decided to just stay home this week. The House is taking their third week of vacation time in the past five weeks, and when they come back into session again they'll be there for just one week before going on vacation again Meanwhile, the debt ceiling has officially been surpassed. The federal government is now borrowing more money to execute the laws than the amount Congress has allowed it to borrow. The Treasury Department says they have a couple months worth of stalling tactics to make sure we don't actually default. But if Congress doesn't get to Washington and figure out a way to pass a debt ceiling increase soon, we risk defaulting on our international financial obligations and destroying our creditworthiness for decades to comes.

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