Here's the problem in a nut shell. The treasury has to auction off 99 billion dollars in debt next week. That amount of debt will take us 4 billion dollars beyond the legal debt ceiling. Who forces the government to adhere to it's own rules, laws, or debt ceilings?
Nobody, of course.
ZeroHedge showcasing the math. http://www.zerohedge.com/article/treasury-hopes-auction-99-billion-bonds-next-week-can-it
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2 comments:
What's a few billion among friends?
from Last of the Mohicans;
"When they set aside their law as and when they wish, they no longer have rightful authority over us. All they have then is tyranny, and I will not live under that yoke, so I will stay here no longer..."
Yeah, that is about where I am at...
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