Thursday, 28 July 2011

17% of US August cash income is enough to avoid default.

Mike Shedlock
An adult discussion of what Government bills to pay next month. (Global Economic Analysis)
Estimated unborrowed revenue in August:  $172.4 billion.
Cost of avoiding default:   $29.0 billion interest on Treasury securities.

Decide how to spend the rest here. (Washington Post interactive list of priorities)

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