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U.S Treasury wrong again !! Predicts Ceiling Breach In 2012; $600 Billion More Debt In Second Half

 
Anonymous Coward
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07/30/2012 05:39 PM
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U.S Treasury wrong again !! Predicts Ceiling Breach In 2012; $600 Billion More Debt In Second Half
[link to www.zerohedge.com]

Back on April 30, when the US Treasury, together with the TBAC chaired by Matt Zames (who as everyone knows is being groomed to take over JPMorgan after Jamie gracefully steps down) sat down put together its latest debt funding needs projection, we openly mocked the numbers when we said "Now obviously we are all for the US needing less debt, however we wonder: did the US discover some magical source of tax revenue: last we checked the companies with $100+ billion in cash were paying virtually zero taxes, and US workers were making less and less courtesy of more and more jobs being converted into temp jobs with lower wages, and less withheld tax as a result.

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