Germany Says 'Great Uncertainty' About US Debt

Discussion in 'Economy' started by Nova78, Sep 11, 2012.

  1. Nova78
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    Nova78 Silver Member

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    Germany Says 'Great Uncertainty' About US Debt

    German Finance Minister Wolfgang Schaeuble questioned on Tuesday how the United States could deal with its high levels of government debt after November's presidential election.

    But Treasury Secretary Timothy Geithner has said the United States is likely to hit a $16.4 trillion borrowing limit by the end of the year.
    Unless politicians agree on a plan, a wave of U.S. spending cuts and tax hikes — dubbed the "fiscal cliff" — are set to take effect in January, within months of the November 6 election.

    A burden for generations to come
     
  2. EdwardBaiamonte
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    EdwardBaiamonte Gold Member

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    I'm lost the debt clock says we're at $20 trillion now and they measure it 4 different ways??

    The only solution is to make debt illegal. Of course Democrats oppose since they would be toast if they could not buy votes with promises of more and more debt and welfare entitlements.
     
  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "What dey think it is - some kinda mirage or sumpin'?...
    :eusa_eh:
    The Debt Limit ‘Is Not Real’
    December 11, 2012 ) – House Minority Whip Steny Hoyer (D-Md.) said Tuesday that the debt limit is “not real” and should not be part of any negotiations to avert the fiscal cliff.
    See also:

    White House: Savings Will Be Long Term
    December 11, 2012 – The White House asserted that spending cuts would occur under a deal reached with Republicans, but would not pledge to make them immediate, addressing a key concern of many conservatives who fear a compromise will mean tax hikes without spending cuts.
     

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