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U.S. May Default June 28 ...... 2002
Dateline May 17, 2002 for a little perspectiveThe United States government will, for the first time in its history, fall into financial default on June 28 unless Congress acts before then to raise the legal limit on the national debt. The June 28 deadline was announcement earlier this week by Treasury Secretary Paul H. O'Neill, who had previously not set a deadline by which Congress needed to increase the current $5.95 trillion debt limit. President Bush's budget projects that the national debt could rise to $6.099 trillion at the end of fiscal year 2002 and to $6.489 trillion at the end of 2003. So the debt has more than doubled in the last nine years. Somebody find me a clue bat. Posted by: Bobby 2011-07-25 |
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