Two news stories on Straits Times caught my attention. You should check them out too.
WASHINGTON – THE US debt is on track to hit a congressionally proposed debt ceiling of 14.3 trillion (S$60.6 trillion) by the end of February, the Treasury said on Wednesday, a day ahead of a key vote to raise it to that level.
NEW YORK – BAILED out US insurance giant AIG, now 80 per cent government owned, will distribute about US$100 million (S$141 million) of bonuses to employees on Wednesday, a person close to the matter said.
Wow, maybe the US should be charged credit-card rates for the money they owe and the Treasury folks should contact our National Council on Problem Gambling.
And whatever the rest of the story is about justifying the $100m in bonuses is just pure BS.
US is going downhill. Some other country will take over the world soon. They are in shit. Deep, deep shit.