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Discussion Forum : News and Current Events :  As Debt Limit Reached, Agreement Still Far Off

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Joined: 2002/12/11
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"Pilgrim and Sojourner." - 1 Peter 2:11

  As Debt Limit Reached, Agreement Still Far Off

The U.S. government is expected to hit the $14.294 trillion debt ceiling Monday, setting in motion an uncertain, 11-week political scramble to avoid a default.
The Treasury Department said Monday it will stop issuing and reinvesting government securities in certain government pension plans, part of a series of steps designed to delay a default until Aug. 2.

The Treasury's moves buy time for the White House and congressional leaders to reach a deficit-reduction agreement that could clear the way for enough lawmakers to vote to raise the amount of money Congress allows the nation to borrow. ...

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SI Moderator - Greg Gordon

 2011/5/17 12:01Profile

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