Pelosi Predicts: $2.4 Trillion Added to Federal Credit-Card Limit Will Last Only 18 Months

Tuesday, August 02, 2011
By Terence P. Jeffrey


Rep. Nancy Pelosi (D-Calif.) AP Photo

(CNSNews.com) - House Minority Leader Nancy Pelosi (D.-Calif.) is predicting that the $2.4 trillion that Congress has now added to the limit on the federal credit card--by increasing the legal debt limit--will be exhausted by the Treasury in only 18 months.

In a speech delivered on the House floor last night explaining why she favored the debt-limit bill, Pelosi repeatedly cited as one reason Democrats should join her in voting for it her belief that the new borrowing authority the bill grants the Treasury will last the government 18 months.

Video: Pelosi: $2.4 Trillion Should Last 18 Months http://www.youtube.com/watch?feature=pl ... 6vzLLQYWNA

“And that’s another reason why I’m supporting this bill,â€