Tuesday, October 1, 2013

U.S. Treasury's Extraordinary Measures

As Congress prepares itself for a big debate on raising the debt ceiling, there's one thing to keep in mind -- the US already hit its borrowing limit on May 19th of this year. The US Treasury is legally only allowed to rack up $16.7 trillion in debt, but it has finagled a way to legally spend an additional $260 billion, using what it calls "extraordinary measures."

- Source, Russia Today: