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Money and Finance, National, Politics

Debt Ceiling Debate, Already?

The standoff that we saw in Washington, DC last week may be repeated sooner than we thought.

The deal was for an immediate $400 billion raise in the debt ceiling, with another increase of $500 Billion when the President asks and there aren’t enough votes in Congress to veto it.

As the Washington Times reported (and WingRight reposted), the Treasury Department spent 60% of that $400 Billion on Tuesday, August 2.

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.

And the US Debt clock is still going up, although slightly more slowly. Tonight, the US Debt is at 14.591 Trillion.

 

About bnuckols

Conservative Christian Family Doctor, promoting conservative news and views. (Hot Air under the right wing!)

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

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