"If we run into the ceiling that's really bad, because world capital markets will say they knew they needed to do it and they've known for six months that they needed to do it and they didn't do it, and that casts a shadow on the good faith and credit of the United States."
- U.S. Treasury Secretary Paul O'Neill warning of the consequences if Congress does not raise the $5.95 trillion debt limit by late June. Neither political party wants to take the heat in an election year for raising the national debt.
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