As Tyler Durden notes, this is the “most disturbing sentence uttered during the debt ceiling debate/government shut down.” America is now going on $17 trillion in debt, a level of insolvency that would already be regarded as catastrophic if the Fed were not keeping interest rates close to zero.
The federal deficit declined in FY 2013, which ended on September 30. Final numbers are not yet available, but it is estimated that the FY 2013 deficit will be around $650 billion. This represents some improvement: it is the first time during the Obama administration when the deficit has been below $1 trillion.
Misleading....the year over year deficit decreased....the aggregate went up AGAIN.....AND....AGAIN....AND AGAIN.....AND, AND....WELL , WELL.....The Sheepel seem to not be capable of distinguishing between Debt Ceiling (clerical, but restraining to spender in Washington District of Criminals) and Default on debt......oh well what do you expect from Mall Crawlers dumbed down by a PC/Socialist public school system for 30 years......put your $$$ in metals and Euros.....although the run up of the Euro has been 30% the last few months......should have bought at the bottom when this mess was not yet in the media.....
And Obama was the man who said a 9 trillion dollar debt was unethical. But a 17 trillion dollar debt is not enough? 20 trillion by the time BHO leaves office.
Thomas Sowell: There are no solutions, just trade-offs.
