posted on Nov, 3 2004 @ 06:24 PM
By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON - The Bush administration announced Wednesday that it will run out of maneuvering room to manage the government's massive borrowing needs
in two weeks, putting more pressure on Congress to raise the debt ceiling when it convenes for a special post-election session.
Treasury Department (news - web sites) officials announced that they will be able to conduct a scheduled series of debt auctions next week to raise
$51 billion. However, an auction of four-week Treasury bills due to be completed on Nov. 18 will have to be postponed unless Congress acts before then
to raise the debt ceiling.
It didn't take long for the fiscally-conservative Bush to raise his head. They had "won" only 5 hours earlier and already they want more
Enjoy it Americans...you get what you deserve.
There is no friend anywhere - Lao Tse