Open Fort Knox! The Ink at the Money Printing Press Is Dry
The government needs money fast. The problem is that the bank vaults are closed for the time being, and unless they are opened by early March, America could face a cash crunch.
The intense battle between Congress and President Barack Obama, who is requesting an immediate increase to the current national debt limit of $16.4 trillion, is ongoing, but it needs to be resolved soon, as the current national debt subject to the limit is $16.39 trillion. Obama is threatening possible delays to Social Security and veterans’ benefits, along with an impact on the government payroll, if the cash doesn’t come. (Source: Lee, C.E., and Hook, J., “Obama Escalates Debt Fight,” Wall Street Journal,January 14, 2013.)