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BlogviewMike Whitney Archive
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American Default
 BlogviewMike Whitney Archive
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American Default

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What If the U. S. Looks Like Defaulting?
Tea Party Brinkmanship
• May 18, 2011
• 1,500 Words • Leave a Comment
On Monday, the US government hit the statutory limit on the amount of money it can borrow, ($14.29 trillion) the so-called "debt ceiling". That means that Treasury Secretary Timothy Geithner has started to implement an emergency plan to keep the government running and pay bondholders while the White House and Congress hammer out the details... Read More
Countdown to Default
Is This the End of the Road?
• May 10, 2011
• 2,100 Words • Leave a Comment
Sometime in mid-May, the United States will hit the debt ceiling ($14.3 trillion) which is the legal limit that the country can borrow without congressional approval. If the ceiling isn't raised, the US will default on its debt and the government will begin to shut down. But that appears to be less likely now than... Read More
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