Wednesday, November 18, 2009

The U.S. Government Has Reached Its Credit Limit

One of the amazing thing about the US Treasury is they publish daily exactly how much money is spent and income received.Treasury has an act that confines them to a limit of a $12,104,000,000 TRILLION deficit, today they are at $11,974,516,000 TRILLION.

Now since Oct 16 this has grown by $84 billion so going by that they are out of dough by Christmas - New Year - the only way this can be extended is to be passed as a new act.

Hmmm a bit of a challenge when there is disagreement between republicans and democrats - my humble thoughts - hang on for a ride over Christmas !!

To read today's full US Treasury report click link below.

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