“The Debt Ceiling Battle Handbook” at MoneyNews

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“The Debt Ceiling Battle Handbook”
By Ed Moy

Quote:

“But because the debt ceiling has been exhausted, if Congress doesn’t pass and the president signs a bill to raise the debt ceiling by mid-October, the government will exclusively be funded by the revenue it generates. Because it generates 75 percent of what it spends, the cash crunch means it will not be able to meet 25 percent of its obligations.”

Read Ed’s full article at MoneyNews.

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