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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.”


Chirac on trial…

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