Magazine
Latest Issue

UNITED STATES

Running out of cash

Time for America to pay its bills, with the new Republican-controlled Congress holding the purse strings in this critical fiscal month. On 4th March the federal government will run out of money unless Congress passes a bill voting for more. A few weeks after that, it will reach the federal debt ceiling of $14.3 trillion (£8.7. trillion) unless, again, Congress votes to increase it. Failure to do so would reduce the rating of US government bonds and would, according to treasury secretary Tim Geithner (above), have “catastrophic economic consequences.”

FRANCE

Chirac on trial…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect