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it is sad to have to go out side the US to get the real news, what will happen from the link
Obama: US debt talks failure 'could restart recession'
yea so that is nothing new, that will happen any way get to the real spending, and thus, this would not be a problem from the link
Failure to raise the US debt ceiling could trigger another recession and throw millions out of work, President Barack Obama has said.
is it just me or do others feel the same way, this is the down fall all want from the US , and the US will be no more.
US federal government debt
US government currently runs a $1.5tn budget deficit, requiring it to issue debt in the form of treasury bills, bonds and other securities
Public debt was $14.3tn on 31 May, up from $10.6tn when Mr Obama took office in January 2009
Most is held by the public, with the rest held in US government accounts
Congress has voted to raise the US debt limit 10 times since 2001
Sources: US Treasury, Congressional Research Service, Congressional Budget Office
well at lest he did not say, "now lets add some salt".
President Obama Injects Urgency Into Deficit Talks: Time to 'Pull Off the Band-Aid'
let the tears fall "john B" for you can stop this.
Obama warned that if Republicans failed to compromise on a solution, it could further depress the nation's already struggling economy and "throw millions of more people out of work."