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| Economy |
| U.S. May Default June 28 ...... 2002 |
| 2011-07-25 |
| Dateline May 17, 2002 for a little perspective The United States government will, for the first time in its history, fall into financial default on June 28 unless Congress acts before then to raise the legal limit on the national debt. The June 28 deadline was announcement earlier this week by Treasury Secretary Paul H. O'Neill, who had previously not set a deadline by which Congress needed to increase the current $5.95 trillion debt limit. President Bush's budget projects that the national debt could rise to $6.099 trillion at the end of fiscal year 2002 and to $6.489 trillion at the end of 2003. So the debt has more than doubled in the last nine years. Somebody find me a clue bat. |
| Posted by:Bobby |
| #2 US Debt-to-GDP is officially no longer at late 60's when I was a young child, nor even IIRC the 96% from just a couple of years ago as in the present - whatever direct andor indirect reserves or assets the Congress could had used to offset was used up empowering the NANNY-WELFARE STATE IN AMERICA = AMERIKA. US GDP = ACCOUNTS RECEIVABLE is officially at US$14.3Trilyuhn while US Debt is US$14.4-14.8Trilyuhn + rising. What are the US Congresscritters going to achieve save for moving towards GREECE-STYLE OR JAPAN-STYLE SUPER-DUPER, "WHY YES, WE CANNOT CONFIRM OR DENY OUR DEBT IS MEGA/OMNI-MASSIVE" INSOLVENCY??? D *** NG IT, WE ARE NOT SATISFIED WID "SPEND SPEND SPEND BECAUSE THE MOON IS NOT MARS OR MERCURY, + NEITHER IS RIGEL OR BETELGEUSE! Only Leftist-Socialists + anti-US "Globalists" [OWG-NWO], + Nuclear Islamists, Militants-Terrorists will be happy. Its 1945, the NOT-5000-SHIPS, 285-VESSEL US NAVY IS OFF OKINAWA, + THE CHINESE, RADICAL ISLAMIST "NUCLEAR" KAMIKAZES = CAMEL-KAZES HAVE NOT BEGUN THEIR MASS ATTACKS YET. THEY HAVE NOT YET BEGUN TO FIGHT. |
| Posted by: JosephMendiola 2011-07-25 19:52 |
| #1 They don't understand what default means. But the market does. That's why the panic is all in the media, which otherwise would not have a story now that Casey Anthony can't even generate a line at a dunk tank. |
| Posted by: Nimble Spemble 2011-07-25 08:20 |