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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Neil H who wrote (98731)	8/2/2011 8:32:01 AM
From: Road Walker	Respond to of 149317

Revenue is separate from expenditures. 2 differing animals The deficit is a single animal. It's myopic thinking like yours that got us in this mess.

To: Neil H who wrote (98731)	8/2/2011 9:07:32 AM
From: Road Walker	Respond to of 149317

Debt ceiling cost to taxpayers: $1.7 billion NEW YORK (CNNMoney) -- The debt ceiling debacle has just cost U.S. taxpayers more than $1.7 billion. That's the amount of additional interest the government had to pay investors Monday to sell Treasury bills that finance its operations. To be precise, the extra cost is $1,721,250,000 more in interest payments than the government would have needed to pay investors just two weeks ago, when they were willing to accept far lower rates before the debt ceiling became a crisis. "That's real money," said IHS Chief Economist Nariman Behravesh. "Taxpayers need to wake up to the fact that these kind of shenanigans in the end cost." As Congress and the President have stumbled ever closer to the deadline for default -- Tuesday according to the Treasury Department -- interest rates on short-term government paper have jumped. On Monday, the U.S. Treasury auctioned $27 billion of three-month bills at an interest rate of 0.115% up from 0.02% two weeks ago. Treasury also auctioned $24 billion of six-month bills at a rate of 0.15%, an increase from 0.06% two weeks ago. more- money.cnn.com