Because Congress has not yet acted to approve normal borrowing authority after
May 18, the Treasury Department will begin implementing the standard set of extraordinary
measures that enable us, on a temporary basis, to protect the full faith and credit of the United
States by continuing to pay the nation’S bills. These measures are the same ones that have been
used in previous debt limit impasses, and are described in detail in an appendix to this letter.

And so it begins again…. Another debt ceiling crises….  Can we ever get rid of this pestilence which afflicts us?

Hope you’ve gotten out of the market?  Remember what happened the last time.  And the effect upon the economy which just like this year, had grown amazingly well the first quarter… and then..  Bam!

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