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Is this Good News?

12.30.2005

Apparantly the US looks to hit its credit ceiling, the Federal Government will exceed its 8.18 trillion dollar borrowing limit in February. From Fox.



"At that time, unless the debt limit is raised or the Treasury Department takes authorized extraordinary actions, we will be unable to continue to finance government operations," Snow wrote.

If the department were to carry out various accounting maneuvers — as it has done in the past to avoid breaching the limit — that would free up finances and allow the government to keep paying its bills "no longer than mid-March," Snow wrote



Im sure those who worry about government debt levels and the exposure of the dollar to such risks are thinking hard about the latest moves by a conservative government. Soon voting democrat will be the fiscally responsible thing to do. Echoes of Black Wednesday?

RR
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