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Truth is in favor of you and me; for the truth of our enemies whom we have been serving here in the U.S.A. for over 400 years (whom we did not know to be our enemies by nature) is the truth that the Black Man must have knowledge of to be able to keep from falling into the deceiving traps that are being laid by our enemies to catch us in their way which is opposed to the way of righteous of whom we are members. ~ The Honorable Elijah Muhammad

Wednesday, August 28, 2013

US will hit debt ceiling in October

In May, a budget deal was reached between the White House and the Congress. The deal imposed a limit on the government’s ability to borrow, setting the debt ceiling at $16.7 trillion. From a purely formal point of view, the debt ceiling has been breached already, but the US Treasury has avoided recognizing it and has used some unorthodox accounting tricks in order to avoid triggering a new confrontation in Congress. Treasury Secretary Jack Lew admits that the Treasury can’t keep the charade going indefinitely and believes that the so-called “extraordinary measures” will be exhausted in October. Lew sent a letter to the Congress in order to forewarn the decision makers about the impeding budgetary crisis. In the past, Congress’ inability to reach a timely consensus in regard to the debt ceiling raises has created numerous issues for the governmental budget and for the American stock markets.  - The Voice of Russia


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