Twitter Rumor Sparks Political Feud Over Debt Ceiling Deadline

By

Twitter has frequently been used as ground for dumping fuel on the proverbial fire, and, alas, the flames are ablaze. This time, the firestorm is about the deadline to raise the debt ceiling before the government defaults on its debt, a controversy sparked by a Reuters columnist saying it moved from early August to August 22.

The rumor has caused friction between Republicans and Democrats on Capitol Hill (as if we needed any more of that), as the debt ceiling will likely run out of room later this summer.

According to a report in The Atlantic Wire, “the confusion began yesterday afternoon when Reuters columnist James Pethokoukis fired off a tweet saying that the deadline for raising the debt ceiling wasn’t actually a deadline at all.”

Pethokoukis’ June 28 tweet said, “Developing: Treasury may move back debt-ceiling deadline to Aug. 22.”

But Treasury spokeswoman Colleen Murray retorted, “It is unlikely that the date will move by more than a day or two – if at all,” according to the report.

In no time, “phones lit up in Washington and Wall Street,” The Wall Street Journal reported.

It’s clear to see the power Twitter has in a case like this. According to the Journal, “the rumor was quickly picked up by Sen. Jon Kyl (R.-Ariz.), one of the chief negotiators of a deficit-reduction package.”

Then at 4 p.m., the National Review Online posted a brief saying Kyl told reporters “that he’s been informed the Treasury Department will soon announce that the August 2 deadline for raising the debt ceiling will be pushed back several weeks.”

Murray tells the Journal that the Treasury Department will provide an update on the debt ceiling outlook at the beginning of July, adding that it is unlikely that the date will move “by more than a day or two – if at all.”

Rumor mongers: Put that in your Twitter pipe, and smoke it.


Erin Harrison is Executive Editor, Strategic Initiatives, for TMC, where she oversees the company's strategic editorial initiatives, including the launch of several new print and online initiatives. She plays an active role in the print publications and TechZone360, covering IP communications, information technology and other related topics. To read more of Erin's articles, please visit her columnist page.

Edited by Stefanie Mosca

Executive Editor, Strategic Initiatives

SHARE THIS ARTICLE
Related Articles

How Real is Telecom Network Transformation: From Legacy to Leading Edge by When?

By: Cynthia S. Artin    11/7/2018

Last week, ABI Research issued its latest report and forecasts in the network orchestration domain, asserting that while a disruption in orchestration…

Read More

What's New in Artificial Intelligence

By: Paula Bernier    11/5/2018

A brief look at what's new in the world of artificial intelligence as it relates to IT operations; customer engagement; marketing analytics; and cloud…

Read More

IBM Makes $34B Bet with Red Hat

By: Paula Bernier    10/29/2018

IBM plans to purchase Red Hat in a $34 billion deal. Big Blue says its combination with the open source pioneer will establish it as the world's No. 1…

Read More

Coding and Invention Made Fun

By: Special Guest    10/12/2018

SAM is a series of kits that integrates hardware and software with the Internet. Combining wireless building blocks composed of sensors and actors con…

Read More

Facebook Marketplace Now Leverages AI

By: Paula Bernier    10/3/2018

Artificial intelligence is changing the way businesses interact with customers. Facebook's announcement this week is just another example of how this …

Read More