u.s. gov to run out of money in 2 months...

[basschick]

"WASHINGTON (AFP) - Treasury Secretary John Snow has warned that unless Congress raises the national debt limit, the US government will run out of cash to finance its daily work in two months."
http://news.yahoo.com/s/afp/20051231...NqBHNlYwM3NDk-

and simultaneously
"The Marine Corps is paying $100,000 apiece for a revamped Vietnam-era jeep as part of its program to outfit the hybrid airplane-helicopter V-22 Osprey, Pentagon records show.

That's seven times what a deluxe commercial version of the vehicle costs. It's also three times what U.S. Export-Import Bank records show the Dominican Republic paid four years ago for a military version of the vehicle, called the Growler, a recycled version of the M151 jeep."
http://news.yahoo.com/s/usatoday/200...MzBHNlYwM3MDM-

hmmm...

[Lee]

It really is a travesty at just how much money the US government does waste on an almost daily basis.

That Jeep thing is just one example, almost ten times the amount of money it would cost for a more high-tech vehicle of better standards.

What do these people running the countries finances actually do with their working day? They certainly dont pay attention to the books it seems.

Regards,

Lee

[IntenseCash.com]

Wow that is crazy. Hum it is not hard at all to find the pattern here, . I can't believe how much money they waste. http://zfacts.com/p/318.html

Mark

[desslock]

good grief, guys

Any country that is not on a gold standard.... well, or ties its money to some fixed asset... they have the license to just create money and debt as to what that want. That is the reason money supplies should be arguably tied to something. Well, Nixon took us off any fixed standard back in the early 70s....

We have the an independent bank agency who just creates interest rates (the value of the dollar) out of thin air. That's the Federal Reserve Bank.

Now the treasury seretary is making the case that the federal gov't can afford borrowing more. That is an arguable case. If you or me is making more and more money, in theory we can keep more credit cards in our wallet.
That is what they are saying. You never know... Bill Gates or Desslock can carry credit cards... there is simply a level of risk involved.

Who is correct? Well that is what is the frustrating nub of macroeconomics.

OK, so I come home drunk from the bar and all I get to go is discuss macroeconomics theory on message boards. I'm going to bed now...

See you all in Vegas!

Steve