From the desk of Johnny Fincioen on Sat, 2011-06-25 12:38 The moment of truth approaches. Obama needs more money urgently. This end of July all the (borrowed) money of the Federal Government is spent. The law sets the debt ceiling at a bit over 14 trillion dollars. Obama is unable to borrow more. He can’t push the US deeper in debt. Very soon, he won’t be able to pay for current expenses. That’s why he’s asking the Congress to raise the debt ceiling with at least two trillion dollars. The Republicans, in control of the House, accept to raise the ceiling under two conditions. First: only if the government is ready to cut spending over the next 10 years with a sum at least equal to the amount of the raise. Second: if taxes are not raised.America’s Fork In The Road.
Sunday, 26 June 2011
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