Liveblogging World War II: April 20, 1941
i Take That Back. Most Amazing Thing I Have Read Today

Debt Ceiling: The Most Extraordinary Sentence I Have Read Today


For example, in 1996, Congress passed and the President signed legislation allowing Treasury to issue securities temporarily excluded from the debt limit in an amount equal to the March 1996 Social Security payments to ensure that benefit payments were made on time. Pub. L. No. 104-103 (Feb. 8, 1996).

So the Republicans in congress wouldn't pass an increase in the debt ceiling at the start of February 1996, but they would pass a law allowing Treasury to borrow to be sure it could issue the March 1996 Social Security checks and excluding that borrowing from the debt ceiling?

Dingbat kabuki indeed...