Treasury Adds Another $20 Billion In Debt Overnight, Just $160 Billion Below Revised Ceiling


Please consider donating to Behind the Black, by giving either a one-time contribution or a regular subscription, as outlined in the tip jar to the right. Your support will allow me to continue covering science and culture as I have for the past twenty years, independent and free from any outside influence.

Get ready for another battle in Congress: The U.S. Treasury added another $20 billion in debt last night, putting it just $160 billion below the newly passed debt ceiling.

The total US treasury balance (subject to the ceiling) is $14.54 trillion (and $14.58 trillion for total), an increase of $20 billion overnight, the Treasury will hit its latest ceiling no later than the end of September. . . . The debt ceiling now is $14.694 trillion: a number which Tim Geithner will hit in about a month.

According to the bill that raised the debt ceiling, the ceiling is only raised in stages. The next stage of $500 billion requires Obama to request it and Congress to okay it.

Share

One comment

  • Kelly Starks

    So instead of puting this off until after the election asObama wanted – he’ll be back before congress every couple hundred billion asking for more money.

    Oh joy.. Wontthat be fun.

Leave a Reply

Your email address will not be published. Required fields are marked *