If I don’t take out another loan, I won’t be able to afford my debts!

I’m no expert, but isn’t that just another way of saying:

If Congress does not vote by Aug. 2 to raise the debt limit, Geithner says the government is likely to default on some of its obligations…

We’re spending so much that our options are: borrow or default?

Holy crap.

More at Hot Air.

More: Lonely Conservative says:

We’ve reached the debt limit, and we’re all still alive. I looked out the window this morning to see if the sky was falling, but it’s still up there.

Well maybe you’re not looking hard enough! You should read more Paul Krugman:

…this is a hostage situation.

And he’s not talking about our grandchildren.