new debt limit
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Thread: new debt limit

  1. #1
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    Feb 2005
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    new debt limit

    I was reading some and found this one: http://www.cbsnews.com/stories/2004/...in656797.shtml

    Now im wondering how close to the 'new limit' we will get before they extend it?
    When we get a new leader of this great country, I think there are things said like, 'don't worry Mr. President, it always goes up.' It very well might be an inside joke even.. All I know is I don't have my $27k to help out..

  2. #2
    Senior Member hesperus's Avatar
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    America's hole of debt is a very scary thing. If it continues, how can fail to swallow the world economy? Borrowed wealth is an oxymoron.

    The new federal borrowing cap is $8.18 trillion; that's 70 percent the size of the entire U.S. economy, and more than $2.4 trillion higher than the debt Mr. Bush inherited upon taking office in 2001. -- from above --
    What happens when things run on false money? Think tech bubble, think Enron, etc, etc. Its disasterous.
    .

  3. #3
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    i know for a fact there isn't that many bills out there in the US. Most money now is electonic anyways, so who is to day where to put the decimal?

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