The U.S. Treasury Building, shown on July 16, in Washington, D.C.(Kent Nishimura / Los Angeles Times)The federal government’s finances are in the red and the White House is occupied by a Democrat, which means it’s time for renewed drama about the federal debt limit.The limit — a cap on borrowing by the Treasury — is set to go back into effect in August after a two-year suspension. By using stopgap measures, the Treasury should be able to keep paying the federal government’s bills until sometime in October, the Congressional Budget Office estimates, although Treasury Secretary Janet L. Yellen predicts that the money could run out sooner.Senate Minority Leader Mitch McConnell (R-Ky.) has said that Republicans won’t vote to increase the debt limit, raising the specter of a filibuster that could lead to default. McConnell suggested to Punchbowl News that Democrats raise the
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