Doom File: Treasury Secretary Geithner urges Congress to raise legal debt ceiling beyond $14.3 trillion by August 2 or USA will face Greek-style “default crisis,” reportedly plans to quit post after debt negotiations
July 5, 2011
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So, after decades of national and personal debt-based spending, the USA is bankrupt. This has been widely known for a long time, but now dot.gov is unable to hide the truth.
“The Treasury Department continues to project that the United States will exhaust its borrowing authority under the debt limit on August 2, 2011,” Assistant Treasury Secretary for financial markets Mary Miller said in a statement last week. Miller added: “Secretary Geithner urges Congress to avoid the catastrophic economic and market consequences of a default crisis by raising the statutory debt limit in a timely manner.”
According to BBC News, the US Congress has raised the country’s debt ceiling at least 75 times in the past 50 years.
Not so coincidentally, reports the British media, Treasury Secretary Timothy Geithner may quit his post later this year. “If Mr Geithner, 49, does depart,” speculates The Independent, “he may leave Mr Obama even more exposed as the economy becomes the key political issue determining his chances of a second term.” Perhaps Geithner knows something about the full extent of America’s impending demise. He has promised to stick around until Congressional debt negotiations conclude. Geithner is pictured above, speaking at the Clinton Global Initiative in Chicago, on June 30, 2011.
When dot.gov uses terms like “exhaust,” “catastrophic,” and “crisis,” you know things are probably much worse. If America defaults on its debt, this will impact Washington’s ability to maintain its military superpower status and project power overseas. The US debt-holding communists in Moscow and Beijing need only bide their time before launching an economic Armageddon against the USA. This will be followed up, we suspect, with missile decapitation strikes against CONUS.