Showing posts with label
U.S. Treasury's Extraordinary Measures.
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Showing posts with label
U.S. Treasury's Extraordinary Measures.
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As Congress prepares itself for a big debate on raising the debt ceiling, there's one thing to keep in mind -- the US already hit its borrowing limit on May 19th of this year. The US Treasury is legally only allowed to rack up $16.7 trillion in debt, but it has finagled a way to legally spend an additional $260 billion, using what it calls "extraordinary measures."
- Source, Russia Today:
