Monday, March 16, 2015

US Hits Debt Limit

Today, the US reached its legal debt limit of $18 trillion.

 Lawmakers will either have to again lift it, or attempt to cap spending.

As of March 12, the US Treasury reported federal debt at $18,114,324,000,000.00 in its daily treasury statement. This figure is above the statutory debt limit, which was extended by Congress through March 15 this year.

Under current arrangements, the US government can keep running until October using so-called extraordinary measures, or accounting tricks to keep money flowing into government programs, according to the Congressional Budget Office.  -RW

(via RT)


  1. Congress will kick the can down the road and raise the debt limit. They always have, always will, at least until they default.

    1. Agreed. They will never do the right thing until it's their only option. Somehow I doubt they'll know when they've reached that point and they'll manage to drive us off the cliff.

      Yes, these are our "representatives." What a pack of losers. Doesn't say much for democracy, does it? Maybe we should revert to the Constitution. Better yet, how about going back to the Articles of Confederation?