US Government Resorting to Emergency Borrowing to Meet Obligations

The US government which is currently facing a deep financial crisis is likely to find it difficult to meet its various obligations after February 14, according to a report released by a Washington based think tank. The Bipartisan Policy Group or BPC has mentioned that the US government  has already reached its borrowing limit on the New Year’s Eve and is currently funding its operations through extraordinary measures. The US treasury has been tapping the $200 billion emergency fund to ensure uninterrupted operations of departments or schemes fully funded by it. The report prepared by … [Read more...]