What is the Federal Government Debt Limit?

The dow has now risen above the 8,000 mark which is my measurement stick.  Below that is very disconcerting, as I have mentioned in my previous blogs.  Just naming Obama's  Treasury Secretary to replace Paulson and rescuing Citi, the biggest bank in the U.S.  has allowed a huge rebound in the market that is amazing at best because there is no substance to these two, only a psychological 'feeling good.'

I was going to write about the 'moral decay' in this country, but decided that the time isn't right.  Keep in mind that we as a country have exceeded the 200 year measurement time when governments collapse.  So we are climbing against what is historically normal.  

Today, on CNN, I heard where 18 U.S. soldiers have died because of faulty electrical wiring when they were showering.  The company is RBK, and the consensus is that their contract is in the multli-billions and too big to cancel.  If I was a mother of one of these lost soldiers due to this ineptness of a corporation, I would let no road go unturned in getting justice.  This is part of our moral decay when we let what the government decide 'too big' to fail, like Citi this past week-end.  

When you look at the big picture, we are at least $7,500,000,000,000 in additional debt due to the 'rescue' that our fed. and president think we have to do.  I am furious that we would burden our kids and grandkids and beyond given that our own behavior created it.  After talking to a friend today about what is the limit of the United States in going into debt, he said it depends on our capability of paying the interest on these trillions.  So I am now monitoring what we are paying on the national debt in interest and how fast it grows.