Relevant:
- Gross US Debt Surges By $240 Billion Overnight, US Debt To GDP Hits Post World War II High 97.2%, Official Debt Ceiling Increase Only $400 Billion | ZeroHedge
- GOP Debt Ceiling Gambit May Lead to Year-Long Battle
- Treasury Auctions To Take US Over Debt Ceiling On Monday
- Could the Fed Rescue US From the Debt Ceiling?
- US Closes 2010 With Over $14 Trillion in Debt; Almost At Debt Ceiling
2012-08-11 — mybudget360.com
The US government seems on a mission to hit the debt ceiling at a historic pace. We are now $400 billion from breaching the $16.3 trillion debt limit but given that we've already blown through $700 billion of money we don't have this year, a date with the ceiling by the end of 2012 doesn't seem far fetched. Of course the political circus simply pretends things are all fine and continues to draw false lines in the sand that mean very little
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