From Zero Hedge:

Not even an hour after we asked the question, The Hill gives us the answer:

"The Obama administration will be asking Congress to raise the debt limit in the coming days," White House press secretary Jay Carney said on Tuesday. "I'm confident it will be executed in a matter of days, not weeks," he told reporters.

The notification by the administration — which had been scheduled for last month — was delayed because Congress has been holding only pro forma sessions. The White House will be asking Congress to raise the U.S. borrowing limit by $1.2 trillion. The move would mark the third and final increase from the debt-ceiling deal reached last year by Congress.

Of course, the optics of yet another debt-ceiling increase, even a preapproved one, are simply horrible during campaign season. But such is life. Here is the kicker though...

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