Re: Amusing footnote.

On Tue, 30 Sep 2008 01:30:59 -0500, Phi wrote:

The next bail out vote will not be until Thursday, because the Jewish
new year intervenes.

Each year since 1969, Congress has spent more money than its income. The
Treasury Department has to borrow money to meet Congress's
appropriations. The total borrowed is more than $9,000,000,000,000 and
growing. Even when government officials claim to have a surplus, they
still spend more than they get in. They pay interest on that huge debt at
$700,000,000,000 per annum.

I suppose Saudi Arabia could foreclose on the USA if it wanted to play
games.
.

Relevant Pages

  • Re: Amusing footnote.
    ... Congress has spent more money than its income. ... Treasury Department has to borrow money to meet Congress's ... appropriations. ...
    (uk.legal)
  • Re: Reference
    ... Congress has spent more money than its income. ... The Treasury Department has to borrow money to meet Congress's ... appropriations. ...
    (uk.legal)
  • Re: Smith and Mill: Georgists?
    ... If they can't then the businessman has to borrow money or raise more ... or find a cheaper way to produce what he sells or he goes out ... In the steady state he must take in more money as income ...
    (sci.econ)