US Will Run Out of Money By November

[Stabby]

We will hit the $7.3 trillion limit and not be able to function unless they raise the debt ceiling.

http://money.cnn.com/2004/08/02/news/economy/treasury_debt.reut/index.htm

WASHINGTON (Reuters) - Treasury Secretary John Snow on Monday put the ball squarely in Congress' court on the debt ceiling issue, warning lawmakers that the U.S. government cannot not be financed past November unless they raise the limit.

In a letter sent to Capitol Hill leaders, Snow said the debt subject to the $7.384 trillion limit will be hit "between late September 2004 and early October 2004." Even if the government takes certain accounting maneuvers to stay beneath the ceiling, as it has done in the past, Snow said, "we can finance government operations no longer than mid-to-late November 2004."

We might have to give up the pretense of democracy and finally start calling ourselves a corporate police state.

"America: We Own You."

[AChimp]

They should mortgage the White House.

[Jeanette X]

How did Bush manage to get us trillions of dollars in debt in the space of merely four years?

[FartinMowler]

War!!! what is it good for? absolutely nothing :/

[Preechr]

How did Bush manage to get us trillions of dollars in debt in the space of merely four years?

Pretty much the same thing he did in Texas, just on a larger scale.

[Ant10708]

War!!! what is it good for? absolutely nothing :/

It could bring a country out of a depression ;)

[mburbank]

Huh. Mid November. I bet were pretty okay for November first and second, but by November third, I'd say all bets were off.

[FartinMowler]

It could bring a country out of a depression

Ya, my country...Canada :/

[Jim Duncan - Weather]

War brought Germany out of debt and made them a world power. :(

[Royal Tenenbaum]

Yeah, becuase they had nothing and had to make it all. The States already has all the ammo and tanks they need, and therefore it creates no jobs. If they forced all of the unemployed to fight in Iraq it might be good for the economy.

[ArrowX]

HAHAHA I live in the only debt free state/province in North america BWAHAHAHHAHAH

[Stabby]

Huh. Mid November. I bet were pretty okay for November first and second, but by November third, I'd say all bets were off.

That will prove to the world that Kerry is a horrible president.
I suspect they're deliberately bankrupting the government. Making Kerry look bad if elected is one great side effect for them but also what better way to permanently eliminate social programs, that the GOP is ideologicaly oppossed to, than to bankrupt them? That or our leadership is too stupid and careless to realize that small tax and big government plus endless wars don't work well together.

[kahljorn]

I'm sure that sometime before the election Kerry will mention how much in debt we were. oh no, sorry, the national debt is never mentioned during elections.

[Jeanette X]

I'm sure that sometime before the election Kerry will mention how much in debt we were. oh no, sorry, the national debt is never mentioned during elections.

This is not a time for pessimism and rage. >:
This is a time for optimism, steady leadership, and progress. :)

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