March 07, 2006

Reckless Disregard

How the Bush administration is working to skirt the US debt limit:

1. Run up massive debts.

2. Scream to Congress that action to set a new debt ceiling is urgent and prudent.

3. Borrow cash from an exchange rate stabilization fund.

4. Borrow more cash from a government pension fund.

5. Borrow even more cash from a civil service retirement fund.

6. Scream to Congress....
Treasury officials estimate the federal government will run out of spending room during the week of March 20. The current debt ceiling is $8.2 trillion.
If I managed my credit cards this way, I would go to jail.

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