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Yahoo! News - U.S. Hits Debt Limit After Senators Put Off Raising Ceiling
by Mike the Usurper at 1:31 pm EDT, Oct 15, 2004

] The federal government reached its $7.4 trillion debt
] ceiling yesterday, forcing Treasury Secretary John W.
] Snow to delay contributing to one of the federal
] employees' pension systems to avoid running out of cash
] and possibly defaulting on government debt.

And to think just a few years ago we had space under that ceiling and it was GROWING! Reason #1 Clinton was better than either Bushie - a balanced budget.