Us deficit and debt ceiling

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August 2 deadline is getting really close: what payments are then due by the US Government.

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Us deficit and debt ceiling

  1. 1. http://marketsandbeyond.blogspot.com/ http://www.pcgwm.com/ US deficit and debt ceilingAn interesting chart showing payments to be made by the US Government after Tuesday 2August deadline when the debt ceiling will be reached and the US no longer able toborrow: on July 28th the US debt stood at USD 14,293.275 billion extremely close to thestatutory limit of USD 14,294 billion.The Bipartisan Policy Center calculated that August 10 is the date when the US will run outof cash and not August 2. Anyway the day of reckoning is getting really close…It is worth noting that the debt ceiling has been increased 78 times since 1960, or 47 timesthe USD 300 billion record reached during WWIIIf a bipartisan deal is reached by then, expect the USD to rally and precious metals to fall.Source:Bipartisan Policy Center: Debt Limit Analysishttp://www.bipartisanpolicy.org/sites/default/files/Debt%20Ceiling%20Analysis%20FINAL%20%28updated%29.pdfThe New York Times: Charting the American Debt Crisishttp://www.nytimes.com/interactive/2011/07/28/us/charting-the-american-debt-crisis.html?ref=politics 1
  2. 2. http://marketsandbeyond.blogspot.com/ http://www.pcgwm.com/ 2

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