Another question about the debt limit

[takoma]

I thought that October 17 is when we will hit the debt limit, and extraordinary methods would begin in order to avoid default. But if Wikipedia is correct (I know that is not guaranteed), we already hit the limit a while back and next Thursday is when the extraordinary methods run out and we actually start to default. The Wiki article is at http://en.wikipedia.org/wiki/United_States_debt_ceiling; can any of you verify or correct?

[Anonymous]

It was reached but they are using some other funding/reserved source that will run out on or about the 17th.

[Anonymous]

Yes, that's true. The Treasury head is quoted in many articles this week saying this thing. Article in the Post this morning confirms that we hit the limit last May.

[Anonymous]

Meanwhile, bazillionaires make more bazillions trading on the volatility of the markets.

[Anonymous]

Anonymous wrote:Meanwhile, bazillionaires make more bazillions trading on the volatility of the markets.

I think it was Rothschild who said, "Buy when there’s blood in the streets, even if the blood is your own."

[takoma]

Meanwhile Senators like Coburn and Toomey say it's all just a big scare tactic. Well, they're right on one count -- I'm scared!!

[Anonymous]

Anonymous wrote:Meanwhile, bazillionaires make more bazillions trading on the volatility of the markets.

+1

Disgusting. And unnecessary.