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Get Ready For The Next Threat of Government Shutdown.......

Anonymous Coward
User ID: 765595
United States
11/05/2011 10:46 AM
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Get Ready For The Next Threat of Government Shutdown.......
We are set to reach the $15 trillion debt ceiling in a couple weeks.

Get ready for the next round of "Do we raise the debt limit" debates.

It will be the latest sobering economic milestone that few were hoping to see: The U.S. national debt – any day now – will soar above the $15 trillion mark.

As of this writing, the total debt is $14.97 trillion, so moving beyond the symbolic $15 trillion is a foregone conclusion. When the unwelcome milestone is reached, it will come at a volatile time both in this country and abroad.

Across the Atlantic, President Obama is in Cannes, France, for the G-20 summit that takes place as Europe is trying to finalize a bailout for debt-ridden Greece.

Back on the home front, Obama is preparing for a difficult re-election fight next year. Republican candidates from Mitt Romney to Herman Cain have pounced on the country’s economic woes in their bids to win the GOP nomination and the chance to oppose Obama. Meanwhile, the Occupy Wall Street protests directed at the nation’s financial inequalities continue to rage across the country.

[link to abcnews.go.com]