On May 3, 2011 I I included this article made on an entry along with a few other articles.

Geithner secures more time to break US budget stalemate

3 May 2011 
Last updated at 04:59 ET 
...Stalemate over the talks means the US risks defaulting on its debts because it will be unable to borrow beyond its $14.3 trillion (£8.6tn) limit.
Mr Geithner had previously said the deadline for a deal was 8 July.
But in a letter to Congress he said that better tax receipts meant the deadline could be extended to 2 August....
Thank you, Tim.  You manage to stay just the other side of the 'most dreaded financial expert' on the planet.  Secretary Geithner seems to working overtime to be sure the 'fiscal' viability of the USA remains intact in a completely hostile House of Representatives. 

Link: http://www.reuters.com/article/2011/05/03/us-japan-moodys-fiscal-idUSTRE7421Y420110503

The actual event was reported on May 2, 2011 in the evening.  Secretary Geithner annouced on the evening of May 2nd he was able to provide THREE MORE MONTHS from that date for Congress to resolve the issue of the "Debt Ceiling."

UPDATE 3-U.S. pushes back day of reckoning on debt limit (click here)

Mon May 2, 2011 6:44pm EDT

* Treasury says can borrow until Aug. 2 under debt limit

* New estimate buys three more weeks for budget deal

* Rising tax revenues slash April-June borrowing needs (Adds analyst comment, details on quarterly refunding)

By David Lawder and Rachelle Younglai

WASHINGTON, May 2 (Reuters) - The U.S. Treasury on Monday pushed back the date when it expects the nation will run out of options for avoiding a default on its obligations by three weeks, buying more time to strike a budget deal with Congress….

The reason Treasury Secretary Geithner provided 'more breathing room ON THE EVENING OF MAY 2, 2011,' is because the USA House of Representatives had been continued to be DEAD LOCKED from April 2, 2011.  So, given three months until the money ran out seemed prudent.  I really is NOT the responsibility of any Treasury Secretary to provide 'breathing room' for raising the Debt Ceiling.  He has other work to do.

BUT.

Given the level of incompetency with the USA House of Representatives and their ideological deadlocks over nearly EVERYTHING, he made the effort to provide more time to END THE DEADLOCK and raise the debt ceiling.

APRIL.

On APRIL 20. 2011 it was noted the morons in the house couldn't get out of their own way to save the country FOR THEIR CHILDREN'S EDUCATION, OR THE CHILDREN IN THEIR DISTRICT!

By Andy Sullivan

WASHINGTON | Wed Apr 20, 2011 1:25pm EDT

Reuters) - In the looming fight over raising the debt limit, Washington will have its eye on two deadlines: July 2011 and November 2012. (click title to entry - thank you)

The first is the date by which Congress will likely have to act in order to ensure that the United States doesn't default on its $14 trillion in accumulated debt.

The second deadline is when President Barack Obama and most members of Congress will face voters.

What has often been a routine, if unpleasant, vote could this year turn into a battleground in the 2012 campaign as Republicans and Democrats advance clashing ideological visions of the nation's priorities....

The US House was notified on the evening of May 2, 2011 that the debt ceiling debate has to end with a bill to pass it by August 2nd.

THREE MONTHS !!!!!!!!!!!

Does anyone actually believe there is going to be a bill to raise the Debt Ceiling?  With these incompetents? 

This is ridiculous ! 

What are we paying them for?