Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (13455)	10/14/2004 1:01:11 PM
From: jrhana	Read Replies (1) \| Respond to of 116555

Actually I think they are kind of neat looking uwec.edu

To: benwood who wrote (13455)	10/14/2004 1:08:45 PM
From: mishedlo	Respond to of 116555

Treasury takings steps to avoid hitting debt limit Thursday, October 14, 2004 4:42:08 PM WASHINGTON (AFX) -- The Treasury Department has begun taking special actions so the federal government would avoid hitting the legally mandated debt ceiling of $7.38 trillion, Treasury Secretary John Snow said In a letter to Senate Majority Leader Bill Frist, R-Tenn., Snow called on Congress "to increase the debt limit by mid-November, at which time all of our previously used prudent and legal actions to avoid breaching the statutory debt limit will be exhausted." Snow released the letter less than 24 hours after President Bush and Sen. John Kerry, D-Mass., faced off for their third and final debate, which focused primarily on domestic issues "This president has taken a $5.6 trillion surplus and turned it into deficits as far as the eye can see," Kerry said in the debate, held late Wednesday at Arizona State University in Tempe, Ariz Bush counters that he has pledged to halve the current deficit in half within five years by limiting the growth of non-defense, non-homeland security discretionary spending [what a lie by Bush. Amazing they have the gall to say this. What we need to reduce is defense spending. A good place to start would be to avoid stupid and unnecessary wars - mish] "I sent up my budget man to the Congress, and he says, here's how we're going to reduce the deficit in half by five years.Â It requires pro-growth policies that grow our economy and fiscal sanity in the halls of Congress," Bush said Congress has been reluctant to raise the debt limit before the Nov. 2 presidential election, just 19 days away. Lawmakers are expected to return to Washington for a special "lame-duck" session after the election to pass spending legislation to keep the government running Still, Democrats took the release of Snow's letter as another chance to attack the Bush administration's management of the federal budget "For the third time in three years, the government has run up so much debt that it has hit the legal debt ceiling. The Treasury Department can prevent default only by taking extraordinary actions, which amount to bookkeeping gimmicks," said Rep. John Spratt, D-S.C., ranking member of the House Budget Committee Last year, the federal budget deficit reached a total of $364 billion and it is expected to top $400 billion this fiscal year. fxstreet.com