In the letter, Geithner writes that the ceiling will be hit on December 31, and even though the Treasury Department will be able to undertake "extraordinary measures" to make sure the U.S. won't experience the full effect of hitting the ceiling, there's an unspecified and unknown amount of time before a government shutdown...
It's called "quantitative easing" and it is a proven method for stimulus, for growth. Says Dinjee Harry ------------------ Yea it is called printing money to prop up the Budget, all the while borrow until you are blue in the face, then when the note comes due, you are too far in debt. Interest rates go Sky high and the debt comes due, and VOILA CRASH ZIMBABWE.
Treasury Secretary Timothy Geithner wrote a letter to Congress today that the federal government will once more hit the statutory debt ceiling on Monday, allowing an unspecified amount of time before the government will have to shut down crucial operations merely to service its debt.
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