Treasury says U.S. can pay its bills for months
Any confrontation over the nations debt ceiling is now unlikely until after Labor Day.
The government will hit the limit of how much its allowed to borrow this weekend, but Treasury Secretary Jacob Lew said in a letter Friday that extraordinary measures likely would allow the nation to continue paying its bills without more borrowing until after Labor Day.
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Since: Sep 11
#1 May 17, 2013
Jacob Lew who made millions betting on the mortgage debacle with a hedge fund using inside info probably tipped off by Barney Frank and Chris Dodd. This guy is as crooked as they get. BENGHAZI
#2 May 18, 2013
"The sequester is being blamed for lackluster growth, which has held the U.S. economy back with declines in government spending, particularly defense spending, an important part of the nationís economic activity."
Read more here: http://www.kansascity.com/2013/05/17/4242128/...
The 'sequester' shouldn't be blamed as all it did was limit the amount of INCREASE that gov't agencies received.
Yes that is correct, limited the amount of INCREASE. The sequester did not reduce any spending. It only limited the amount of increased spending.
"The spending reductions are approximately $85.4 billion during fiscal year 2013,(p14) with similar cuts for years 2014 through 2021. However, total federal outlays will continue to increase by an average of $238.6 billion per year(p3) during the next decade, although at a somewhat lesser rate because of the sequester."
Did anybody catch this part where "total federal outlays wll continue to increase"? So where are these drastic budget cuts that the gov't keeps crying about?
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