Friday, January 29, 2010

Be afraid

To keep the federal government running into early next year, the Senate has voted to extend Washington's line of credit by an additional $1.9 trillion, to $14.3 trillion. The House is expected to follow suit next week.

The nation's current debt limit — $12.4 trillion, which Congress approved on Christmas Eve — will be reached in mid-February. Doing the math, AP says $14.3 trillion in debt works out to $45,000 for every American.—-to-143t/1

Be afraid - - $14.3 trillion in debt ($45,000 for every American) is unsustainable, banana republic, hyper inflation territory.

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