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Ceiling suspended: US takes on $300bn in new debt after hitting $16.7 trillion

Published time: May 20, 2013

America’s ticking debt bomb has been reset. Washington has suspended the debt ceiling, setting a date, and not a concrete dollar sum as a deadline, an unprecedented first in US history.

Citing ‘extraordinary measures’, the US Treasury has further delayed tackling America’s debt, and will wait until Labor Day, September 2nd, to revisit the burgeoning crisis. The ceiling has been lifted, and the Treasury has promised it will keep cash pumping into government spending programs beyond the debt limit through a series of emergency cash tools.

“It will not be until at least after Labor Day" when Washington will have reached their full borrowing capacity, Treasury Secretary Jacob Lew, told CNBC television on May 10th.

read more http://rt.com/business/us-debt-ceiling-suspended--510/

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Congress borrows more that they can't pay back.

Congressional solution to too much debt is add more debt.

Congress thinks we will work for them and support their gambling habits.

Free includes debt-free!