Detailed text transcripts for TV channel - CNN - 20110411:21:29:00
>> and republican senator kay bailey hutchinson told cnn -- >> that is the one where we have got to see reforms before the debt ceiling is raised. >> congress sets the cap on how much money the federal government can legally borrow. the first limit was set in 1917. and now the situation is worse than it has ever been. >> it's one of the few breaks that we have in the system, and there really shouldn't be an open ended credit card for congress. >> the credit card limit stands at $14.295 trillion and is getting close to maxing out. the current debt stands at $14.211. at the rate that the governm...
Source: news source