The federal government hit its legal borrowing limit of $16.394 trillion on Dec. 31, and has begun taking "extraordinary measures" to cover shortfalls. The Bipartisan Policy Center's estimate indicates when those measures run out and the Treasury will only be able to pay bills with the daily revenue coming in.The Numbers are staggering...
Problem is, there likely would be less revenue coming in than has to be paid out for each of the days between Feb. 15 and March 15.
On Feb. 15, for instance, Treasury will take in an estimated $9 billion in revenue but is committed to pay out $52 billion.
Tuesday, January 08, 2013
Debt ceiling: Not raising it means 'chaotic' payment choices - Jan. 7, 2013
Debt ceiling: Not raising it means 'chaotic' payment choices - Jan. 7, 2013
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment