The mother of all storms is set to befall the United States in September.I am not talking about some voodoo prediction,market prediction,or science fiction.I am talking about the very real budget crisis.
See they raised the debt ceiling and pushed the increase to where it would last past the next presidential election,or so they though.In reality the debt limit increase has been spent.The treasury has roughly 160 billion left until it hits the limit again.That is enough to fund our government until the end of September.This is a crisis you should pay attention to.Forget the markets,forget all the distraction.This is the real deal.
This means your government will have to go through the whole raise the debt ceiling debate again.Can you guess what the impact on the US dollar will be?
What a nightmare.To bad this is the new reality we live in.
*source https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=11080500.pdf
and an article about it Treasury Adds Another $20 Billion In Debt Overnight, Just $160 Billion Below Revised Ceiling | ZeroHedge
The president can request an additional 500 billion from congress,but not until October.
September 30 is also the deadline for a new US budget(fiscal year)to pass,or an extension to be made to our last 6 extensions.
I am sorry.
http://m.washingtontimes.com/news/2011/aug/3/us-eats-most-debt-limit-one-day/
U.S. debt shot up $239 billion on Tuesday — the largest one-day bump in history — as the government flexed the new borrowing room it earned in this week’s debt-limit increase deal.
The debt subject to the statutory limit shot way past the old cap of $14.294 trillion to hit $14.532 trillion on Tuesday, according to the latest the Treasury Department figures, which are released on the next business day.
That increase puts the government already remarkably close to the new debt limit of $14.694, which means one day’s new borrowing ate up 60 percent of the $400 billion in space Congress granted the president this week.
See they raised the debt ceiling and pushed the increase to where it would last past the next presidential election,or so they though.In reality the debt limit increase has been spent.The treasury has roughly 160 billion left until it hits the limit again.That is enough to fund our government until the end of September.This is a crisis you should pay attention to.Forget the markets,forget all the distraction.This is the real deal.
This means your government will have to go through the whole raise the debt ceiling debate again.Can you guess what the impact on the US dollar will be?
What a nightmare.To bad this is the new reality we live in.
*source https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=11080500.pdf
and an article about it Treasury Adds Another $20 Billion In Debt Overnight, Just $160 Billion Below Revised Ceiling | ZeroHedge
The president can request an additional 500 billion from congress,but not until October.
September 30 is also the deadline for a new US budget(fiscal year)to pass,or an extension to be made to our last 6 extensions.
I am sorry.
http://m.washingtontimes.com/news/2011/aug/3/us-eats-most-debt-limit-one-day/
U.S. debt shot up $239 billion on Tuesday — the largest one-day bump in history — as the government flexed the new borrowing room it earned in this week’s debt-limit increase deal.
The debt subject to the statutory limit shot way past the old cap of $14.294 trillion to hit $14.532 trillion on Tuesday, according to the latest the Treasury Department figures, which are released on the next business day.
That increase puts the government already remarkably close to the new debt limit of $14.694, which means one day’s new borrowing ate up 60 percent of the $400 billion in space Congress granted the president this week.
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