We’re Over the Debt Limit on… Monday


According to the Dow Jones new service, the US will exceed its borrowing limit on Monday.

Maxed Out.

WASHINGTON -(Dow Jones)- The Treasury Department auctioned $56 billion in new debt Tuesday and Wednesday, enough to take the U.S. over its federal debt ceiling when the three- and 10-year notes settle on Monday.

Treasury officials last month flagged May 16 as the day the government would hit the $14.294 trillion debt limit.

The U.S. is selling $72 billion in new debt over three days this week. The Treasury auctioned $32 billion in three-year notes Tuesday and $24 billion in 10-year notes Wednesday, and will sell $16 billion in 30-year bonds Thursday. All of the auctions will settle Monday.

As of Tuesday, total debt subject to the limit was $14.274 trillion, according to the Treasury Department.

Although we’ve heard narratives that borrowing would not exceed authorizations until July or even August, it seems reality may have overtaken us.

Wonder if the MSM is going to be talking about this?


0 0 vote
Article Rating
Ron Robinson
Ron Robinson (Alhambra, CA) is founder of PROCINCT.net, a national internet platform that broke the party Voter Vault/PDI monopoly and delivered precinct walk lists in the 2010 election for over 16 million voters in wards in 20 US states. PROCINCT.net added Precinct Committeeman (PC) Strategy support in Dec of 2010 and is rapidly emerging as a premier online Precinct Strategy resource having worked directly with party and election officials in states to remove local obstacles to becoming a Precinct Committeeman.

He is GOP Chair for the AD49 GOP Central Committee, a member of the Los Angeles County GOP Central Committee and a member of the LA GOP Technology Committee.

Robinson worked as New Media Director for the John Colbert campaign for US Congress.

He is an expert in social media and internet security and an outspoken advocate of precinct committee work, GOTV work, and transparency in party governance.

Leave a Reply

Notify of
Newest Most Voted
Inline Feedbacks
View all comments
redneck hippie
May 12, 2011 12:44 am

Reading this is nauseating. Literally. Not your writing, of course, Ron, but the sheer lunacy of our reality.

But in the never-neverland of Obamunist utopia, the propagandists will tell us nothing of substance. Nothing to see here. Words fail.

May 12, 2011 2:19 am

Ha, the way you handle any numbers you don’t like? Just change the way they are calculated. Guarantee they have some provision or accounting gimmick to deal with it.

Don’t like unemployment #? change the way its calc’ed. Don’t like inflation? Change the components. That’s the DC way!