Zimbabwe Is Down to Its Last $217 - No Joke
There are cash-strapped governments and there are broke governments. And then there's Zimbabwe, which, after paying last week's government salaries, has just $217 left in the bank. No, we didn't forget any zeroes to the end of that figure. Zimbabwe, the country that's home to some of the world's largest platinum and diamond reserves, literally has the same financial standing as a 14-year-old girl after a really good birthday party.
The country's finance minister admitted as much in a press conference on Tuesday. "Last week when we paid civil servants there was $217 left in government coffers."
Smiling Through The Spendocalypse
Lost in the president’s hyperventilation is the fact that under sequestration the federal government will spend just 1.5 percent less this year than it would like to, and still slightly more than it spent in 2012. Indeed, it will spend more than it has in any year in history save one (2011). And even discretionary spending, which takes the brunt of the cuts, will be set at — shock, horror — 2009 levels.
Austerity, this is not.
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The rest of today's links.
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The True Story Of Why The Govt Printed The $100,000 Bill (Interesting)
Citigroup Awards New CEO $12 Million
Pelosi Opposes Congressional Pay Cut: 'Undermines Dignity Of Our Job'
The Great Sequester Panic Is Nonsense!
Mary Meeker's Definitive Guide To The American Public Debt Crisis
Roger Goodell NFL Commish Earned $29 Million Last Year
Massachusetts S&P Probe Said to Extend Into Post-Crisis Ratings
Why Are The World’s Most Profitable Banks In Indonesia?
Mongolia's $1.25/Day Labor Amid $4,000 Purses Stirs Anger And Discontent
Oil Price Drops to Lowest Level This Year
Boeing Has New 787 Battery Pack - Needs Go Ahead From FAA
FBI Declares War on The Scooter Store (Jon Corzine is still free...)
Tim Tebow Betrays The Christian Right
'Obama Skeet Shooting Action Figure' Now For Sale
Challenger To Replace Jesse Jackson, Explains The Chicago Machine
Author On Why Young People Love Ron Paul
As Obama Confronts Corporate Tax Reform, Lobbyists Fight For Loopholes
Ex-Astronaut Plans to Protect Earth from Asteroids: Video
New Glasses Block Facial Recognition Scanners, Marking Trend In Privacy Wearables
PHOTOS - The Last 50 Years of Sports Illustrated Swimsuit Covers
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Bonus clip:
STUDY - Memory Of Chimps 'Far Better Than Human’