If you haven't applied for one of the $40 converter box coupons yet, you'll have to sign up on a waiting list—which already has tens of thousands of names on it. Will Congress come to the rescue?

The AP reports that the National Telecommunications and Information Administration, the agency that's handling the DTV converter box coupon program, has burned through its $1.34 billion budget for the coupons.

That's bad news for those over-the-air analog TV viewers who need help paying for a DTV converter box, but haven't yet applied for coupons—or did apply, but allowed their coupons to expire. (You can apply for up to two coupons per household.)

Meanwhile, the analog shutoff date is alarmingly close: February 17, 2009, to be exact.

Now, the news isn't all bad. Each DTV converter box coupon expires 90 days after it was issued, and the NTIA is estimating (according to the AP) that about 350,000 coupons will expire each week until (and through) the Feb. 17 deadline.

As those coupons expire, money is released back into the program, allowing those currently on the waiting list to get new coupons. Even so, officials warn that those on the waiting list probably won't get their coupons until after the deadline passes.

In the meantime, NTIA administrators are calling on Congress to approve more money or allow the department to issue new coupons without waiting for unused coupons to expire, according to the AP.

So, need a coupon but haven't applied yet? Well, get thee to DTV2009.gov and sign up ASAP, and check out our complete guide to the DTV transition.

Related:
Feds start wait list for DTV converter box coupons [AP]