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  Topic: Impending US debt ceiling stand–off
will put fiscal cliff in the shade
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Impending US debt ceiling stand–off
will put fiscal cliff in the shade

Telegraph [UK], by Richard Blackden

Original Article

Posted By:Attercliffe, 1/11/2013 9:12:40 AM

If Congress does not agree to raise the debt ceiling, the US government will face tough decisions over which financial obligations it will meet, and which it won´t. The choices will be invidious and legally questionable. New Year´s Eve was the perfect time for a company to bury bad news. In the end, it was a country that seized the opportunity. As the world celebrated the start of 2013, the US government revealed that it had reached its $16.4 trillion (£10 trillion) borrowing limit. Disclosing the news with just hours of 2012 left was not the only devilry in

Comments:
Blackden is obviously pessimistic as the header indicates.

      


Post Reply  

Reply 1 - Posted by: Country Boy, 1/11/2013 10:05:59 AM     (No. 9110570)

Tax revenues go up EVERY year for the Government. It´s not a revenue problem. It´s a SPENDING problem.

Fiscal cliff dead ahead.

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Reply 2 - Posted by: Grambo, 1/11/2013 10:26:23 AM     (No. 9110616)

Ground Air Force 1 until Reid puts forward a balanced budget.

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