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Financial Cheer

S&P cuts the government’s rate on its debt from stable to negative for the first time in history.

The US has exceeded its debt ceiling. Isn’t that illegal?

America’s Tax System In Just 72,536 Easy Pages

5 Responses to “Financial Cheer”

  1. bob r Says:

    The US has exceeded its debt ceiling. Isnít that illegal?
    More of a guideline. Though the captain appears to be more honest than our “leaders”.

  2. Mike Says:

    Since when has legality been an issue with the FEDGOV?

    We’re waaaay beyond such parochial issues as the “rule of law”.

  3. MrSatyre Says:

    Maybe I’ll just stop paying my taxes and when the IRS comes a-knocking, I’ll just tell them that I exceeded my debt ceiling, but that it must be legal and therefore okay because the Federal gov’t has too.

  4. Michael Says:

    The US has exceeded its debt ceiling. Isnít that illegal?
    If you get enough lawyers in a room, you can get around anything. A good overview is here:

    http://keithhennessey.com/2011/04/11/why-the-debt-limit-fight-will-be-different/

  5. Phelps Says:

    BTW, I still miss the monkey in the banner.