~SNIP~
WASHINGTON - The U.S. government’s national debt — the accumulation of past budget shortfalls — totaled more than $7 trillion for the first time as of Tuesday, according to a Treasury Department report.
In its daily financial statement released Wednesday, the Treasury said the U.S. debt subject to a congressionally set limit totaled $7.015 trillion, up from $6.983 trillion Friday. The government was closed Monday for the Presidents Day holiday.
While passing the $7 trillion mark itself has little practical significance, not unlike a car’s odometer rolling over, it may signal some tough political times for President Bush’s administration on fiscal policy.
The government debt ceiling stands only a few hundred billion dollars ahead at $7.384 trillion, and the Treasury would need Congress’s blessing to borrow beyond that. Treasury officials say they expect the limit to be hit sometime between June and October.
... more ...
link:
http://msnbc.msn.com/id/4305407/Follow the U.S.money$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$war$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$haliburton$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$afghanistan$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$iraq$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$foriegn$aid$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$photo$op&aircraft$carrier$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$trickle$up$economics$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 7 trllion what!?
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
