August 2 deadline is getting really close: what payments are then due by the US Government.

1. http://marketsandbeyond.blogspot.com/
http://www.pcgwm.com/
US deficit and debt ceiling
An interesting chart showing payments to be made by the US Government after Tuesday 2
August deadline when the debt ceiling will be reached and the US no longer able to
borrow: on July 28th the US debt stood at USD 14,293.275 billion extremely close to the
statutory limit of USD 14,294 billion.
The Bipartisan Policy Center calculated that August 10 is the date when the US will run out
of cash and not August 2. Anyway the day of reckoning is getting really close…
It is worth noting that the debt ceiling has been increased 78 times since 1960, or 47 times
the USD 300 billion record reached during WWII
If a bipartisan deal is reached by then, expect the USD to rally and precious metals to fall.
Source:
Bipartisan Policy Center: Debt Limit Analysis
http://www.bipartisanpolicy.org/sites/default/files/Debt%20Ceiling%20Analysis%20FIN
AL%20%28updated%29.pdf
The New York Times: Charting the American Debt Crisis
http://www.nytimes.com/interactive/2011/07/28/us/charting-the-american-debt-
crisis.html?ref=politics
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2. http://marketsandbeyond.blogspot.com/
http://www.pcgwm.com/
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