U.S. Government Reaches $7.38 Trillion Debt Limit (Update2)
Oct. 14 (Bloomberg) -- The U.S. government reached the $7.384 trillion legal limit on how much it can borrow, forcing the Bush administration to shuffle funds among accounts and prompting fresh Democratic criticism of the president's economic policies.
To avoid exceeding the cap, the Treasury said it would temporarily suspend contributions to a government pension program. The department's plan to announce new debt sales in early November won't be affected. Congress isn't expected to increase the amount of debt the Treasury can sell to fund approved government spending until sometime next month.
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So now they're robbing Peter to pay Paul. Let's just mortgage our great-grandchildren. Fucking asshole.
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