Thursday, February 27th, 2020  |  4:40 PM

A Conservative Newspaper Promoting,
Life, Liberty, and the Pursuit of Happiness

Subscribe Now: Get your own copy of The US Journal

Shut 'er Down!

Written By: Laurence M. Vance  |  Posted: Friday, June 10th, 2011

            The federal government has once again reached its debt limit. With the federal deficit exceeding $1 trillion for the third straight year, and the government's inability to exceed the debt ceiling of $14.294 trillion, there is talk once again of a government shutdown.

             This does not mean, however, that the government has ceased borrowing money. Treasury Secretary Timothy Geithner has already said that he will halt investments in two government pension plans so the government can continue to borrow money. He also said that unexpected revenue and bookkeeping maneuvers will allow the Treasury Department to continue auctioning off more federal debt. Geithner adds, though, that if Congress doesn't increase the debt ceiling by August 2, the government faces the possibility of defaulting on its debt.

Sign into your account to read the rest of this article. »

Share this on Twitter  |  Share this on Facebook  |  Email to a friend.  |  Contact the editor.

What are your thoughts?

Want to read more of this article?

You must be a subscriber to read entire articles.

Gain 24/7 access to all the content on this website by becoming a subscriber.
Choose your subscription plan and get full access in minutes. Subscribe now. »

If you are already a subscriber, sign in now to read more full articles.

More National News

This Month’s Headlines

God Save Women from Other Women

This Month's Headlines

Trump's Energy Success

This Month's Headlines

The Democrat Party Needs to Wake Up

Deadly Isms

Mainstream Media Can't be Trusted

If it Damages America, It's Good for Democrats

Foreign Interventionism is Destroying Us