Treasury Increases Borrowing Estimate for Q4

Our government continues to borrow and spend like a gambler in debt. This despite the claim that the economy is doing well. Much of that money that is borrowed from our future generations is being sent into that rat hole called Iraq. And now that the stock market is plunging they are going to have to borrow more from the Chinese since we are broke as a nation:

The Treasury Department increased the amount it expects to borrow in the fourth quarter of fiscal 2007, saying it needs more money due to higher government outlays and lower issuances of state and local securities.

[...]Also on Monday, Treasury Secretary Henry Paulson asked Congress to raise the U.S. debt limit. In a letter to Senate Majority Leader Harry Reid, D-Nev., Paulson said the current debt limit of $8.965 billion will be reached in early October. Paulson said a congressional decision to raise the limit would spare Treasury the need to take special actions that could create "unnecessary uncertainty" for financial markets.