Forums
New posts
Search forums
What's new
New posts
New media
New media comments
Latest activity
Classifieds
Media
New media
New comments
Search media
Log in
Register
What's New?
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Navigation
Install the app
Install
More Options
Advertise with us
Contact Us
Close Menu
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Forums
The Water Cooler
General Discussion
America's debt
Search titles only
By:
Reply to Thread
This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
Message
<blockquote data-quote="_CY_" data-source="post: 1576011" data-attributes="member: 7629"><p>Down to the wire</p><p></p><p>Jul 18th 2011</p><p></p><p>Lawmakers in America are running out of time to raise the debt limit</p><p></p><p>WHILE Congressmen trade over concessions and budget cuts, the clock continues to tick on America's debt. Barack Obama has set a deadline of July 22nd for Congress to agree on a deal. On August 2nd, the $14.294 trillion threshold at which by law America can no longer borrow money, will be reached. If that happens, America will default on its debt, triggering "a huge financial calamity" according to Ben Bernanke, the Federal Reserve chairman. On June 30th, there remained just $25m left in the kitty. Congress has acted a total of 91 times since June 1940 to either raise, extend or alter the definition of the debt limit-36 times under Democratic presidents. And they have done so with some 300 days to spare on average. </p><p></p><p><a href="http://www.economist.com/blogs/dailychart/2011/07/americas-public-debt" target="_blank">http://www.economist.com/blogs/dailychart/2011/07/americas-public-debt</a></p><p></p><p>[ATTACH=full]93539[/ATTACH]</p></blockquote><p></p>
[QUOTE="_CY_, post: 1576011, member: 7629"] Down to the wire Jul 18th 2011 Lawmakers in America are running out of time to raise the debt limit WHILE Congressmen trade over concessions and budget cuts, the clock continues to tick on America's debt. Barack Obama has set a deadline of July 22nd for Congress to agree on a deal. On August 2nd, the $14.294 trillion threshold at which by law America can no longer borrow money, will be reached. If that happens, America will default on its debt, triggering "a huge financial calamity" according to Ben Bernanke, the Federal Reserve chairman. On June 30th, there remained just $25m left in the kitty. Congress has acted a total of 91 times since June 1940 to either raise, extend or alter the definition of the debt limit-36 times under Democratic presidents. And they have done so with some 300 days to spare on average. [url]http://www.economist.com/blogs/dailychart/2011/07/americas-public-debt[/url] [attach=full]93539[/attach] [/QUOTE]
Insert Quotes…
Verification
Post Reply
Forums
The Water Cooler
General Discussion
America's debt
Search titles only
By:
Top
Bottom