Contact Me By Email

Atlanta, GA Weather from Weather Underground

Monday, August 02, 2004

BBC NEWS | Business | Call to raise US debt threshold

BBC NEWS | Business | Call to raise US debt threshold: "Call to raise US debt threshold
US Treasury Secretary John Snow has urged Congress to raise the government's debt ceiling, or face a cash crunch in the autumn.
He warned that Washington was on track to breach the current limit of $7.4 trillion in late September.
If the ceiling is not raised, 'we can finance government operations no longer than mid-to-late November,' he said.
The move is likely to reignite controversy over the US's spiralling budget deficit.
US government expenditure, swollen by the war in Iraq, exceeded revenues by a record $375bn in 2003, and the gap is forecast to rise again to $445bn this year. "

No comments:

Post a Comment