It’s a Long Way Down
April 28th, 2011 - 1:05 pm
Trifecta: Ceiling is believing — is the Obama administration being truthful about the debt limit?
Duh. No.
But we do have scary-ass charts and a vintage clip of what happened the first time the federal debt hit 92% of GDP, way back in 1943.
JPMorgan to Tim Geither, “If you do not borrow more from us, we’ll raise rates on the Treasury.”
http://economix.blogs.nytimes.com/2011/04/26/what-happens-if-the-debt-ceiling-isnt-raised/