Monday, January 12, 2009

The U.S. is borrowing like mad. Will we default?

In its battle against the financial crisis, the U.S. government has extended its full faith and credit to an ever-growing swath of the private sector: first homeowners, then banks, now car companies. Soon, President-elect Obama will put the government credit card to work with a massive fiscal boost for the economy. Can the U.S. pay the money back?

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