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Debt ceiling forces ‘chaotic’ choices
IF CONGRESS MISSES THAT DEADLINE, THE TREASURY DEPARTMENT WILL BE FORCED TO MAKE LEGALLY QUESTIONABLE, NO-WIN DECISIONS ON HOW TO HONOR THE TENS OF MILLIONS OF BILLS OWED EVERY MONTH. THE FEDERAL GOVERNMENT HIT ITS LEGAL BORROWING LIMIT OF $16.394 TRILLION ON DEC. 31, AND HAS BEGUN TAKING “EXTRAORDINARY MEASURES” TO COVER SHORTFALLS. PROBLEM IS, THERE LIKELY WOULD BE LESS REVENUE COMING IN THAN HAS TO BE PAID OUT FOR EACH OF THE DAYS BETWEEN FEB.15 AND MARCH 15.
Read the full article here:
Debt ceiling forces ‘chaotic’ choices
Read the full article here:
Debt ceiling forces ‘chaotic’ choices
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article ID: 900008063 http://www.employmentcrossing.com/article/900008063/Debt-ceiling-forces-chaotic-choices/  article title: Debt ceiling forces ‘chaotic’ choices
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