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Law, Money and Finance, Politics

U.S. eats up most of debt limit in one day

Don’t look behind the curtain!

The debt subject to the statutory limit shot way past the old cap of $14.294 trillion to hit $14.532 trillion on Tuesday, according to the latest the Treasury Department figures, which are released on the next business day.

That increase puts the government already remarkably close to the new debt limit of $14.694, which means one day’s new borrowing ate up 60 percent of the $400 billion in space Congress granted the president this week.

via U.S. eats up most of debt limit in one day – Washington Times.

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  1. Pingback: Debt Ceiling Debate, Already? « WingRight - August 9, 2011

  2. Pingback: Deja Vu All Over Again: Total US Debt Passes Debt Ceiling « WingRight - September 2, 2011

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