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Government Reaches Borrowing Limit

By: lkorrow in CONSTITUTION | Recommend this post (0)
Tue, 17 May 11 7:48 AM | 57 view(s)
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Msg. 13179 of 21975
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Government Reaches Borrowing Limit
While the milestone is not expected to have major immediate economic consequences, Treasury will now begin a series of “extraordinary” measures designed to stave off a potential government default until August 2, when Treasury will be faced with the need to cut $125 billion in monthly spending or default on interest payments.

Full story
http://nationaljournal.com/budget/government-reaches-borrowing-limit-20110516




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