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The US National Debt and that Ceiling

US Hits Debt Ceiling

US Hits the Debt Ceiling
Federal Retirement Funds the First to be Put on Hold

The U.S. debt hit the ceiling, that was the loud thump you heard. We read in this sober article, where options are few, but to cut spending:

May 16, 2011
NEW YORK (CNNMoney) -- It's official: The U.S. government hit the debt ceiling on Monday, Treasury Secretary Timothy Geithner told Congress.

Geithner said he would have to suspend investments in federal retirement funds until Aug. 2 in order to create room for the government to continue borrowing in the debt markets.

Read Full:
U.S. hits debt ceiling

Forum Discussion on GLP

The current debt limit, set by the US Congress, is set at a staggering 14 trillion and then some! We owe the bankers of the world, with the so called National Debt, more than $14,308,385,181,650.10 Source - NationalDebt

Additional source: US National Debt Graph: What They Never Tell You

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