Ponce
4th June 2010, 12:59 PM
Is the USA on the brink of economic crisis?
Pages: 12
An economic crisis may occur in the USA the day after tomorrow, if American congressmen do not decide to increase borrowings to USD 9 trillion by the time they leave for their autumn recess.
USA needs to increase borrowings
BREAKING NEWS
Sky is the limit for the USA's national debt
On 6 March the Head of the Treasury John Snow warned congressmen that by 20 March the USA may exceed the fixed limit of $8.2 trillion.
Snow announced that the American administration had taken measures to avoid exceeding the agreed limit of national debt. He encouraged congress to approve the increasing of the borrowings as soon as possible so as to avoid a possible economic crisis.
They plan to limit the Social Security Fund which the Treasury thinks will save a few billion dollars. They propose to take $65 billion from the State Pension Fund and $15 billion from the Exchange Stabilization Fund which is in place to account for currency fluctuations. The measures are only temporary and it is thought that the money would be returned to where it came from.
http://english.pravda.ru/world/americas/16-03-2006/77366-usa_borrowings-0
Pages: 12
An economic crisis may occur in the USA the day after tomorrow, if American congressmen do not decide to increase borrowings to USD 9 trillion by the time they leave for their autumn recess.
USA needs to increase borrowings
BREAKING NEWS
Sky is the limit for the USA's national debt
On 6 March the Head of the Treasury John Snow warned congressmen that by 20 March the USA may exceed the fixed limit of $8.2 trillion.
Snow announced that the American administration had taken measures to avoid exceeding the agreed limit of national debt. He encouraged congress to approve the increasing of the borrowings as soon as possible so as to avoid a possible economic crisis.
They plan to limit the Social Security Fund which the Treasury thinks will save a few billion dollars. They propose to take $65 billion from the State Pension Fund and $15 billion from the Exchange Stabilization Fund which is in place to account for currency fluctuations. The measures are only temporary and it is thought that the money would be returned to where it came from.
http://english.pravda.ru/world/americas/16-03-2006/77366-usa_borrowings-0