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Posted by Lawrence Glickman on 03/23/07 17:43
On Fri, 23 Mar 2007 11:11:01 -0600, zzpat <zzpatrick@gmail.com> wrote:
>Useful Info wrote:
>> Congress Sets New Federal Debt Limit: $9 Trillion
>>
>> Full story here:
>> http://muvy.org/
>>
>
>FYI, as of March 21,2007 the Bush debt stood at $3,106,078,604,091.32
>($3.1 trillion), not $3.3 trillion.
Fact of the matter is, the Fed Gov only gets enough money to pay
INTEREST on its' debt. It never has enough money to pay the financial
principal.
This seems to be OK with the banks, because they *think* Fed Gov will
live forever, and they will get the principal back sooner or later.
It isn't OK with people we owe money to, like China.
Lg
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