08-04-2011, 09:55 AM
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New England Hick
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Join Date: Sep 2006
Location: CT
Posts: 1,501
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U.S. Eats Up Most of Debt Limit in One Day
We're now borrowing 100% of the GDP.
$239 Billion Spike Uses Up 60% of Funding OK'd on Tuesday
Stephen Dinan
Washington Times
August 3, 2011
Quote:
U.S. debt shot up $239 billion on Tuesday — the largest one-day bump in history — as the government flexed the new borrowing room it earned in this week's debt-limit increase deal.
The debt subject to the statutory limit shot way past the old cap of $14.294 trillion to hit $14.532 trillion on Tuesday, according to the latest the Treasury Department figures, which are released on the next business day.
That increase puts the government already remarkably close to the new debt limit of $14.694, which means one day's new borrowing ate up 60 percent of the $400 billion in space Congress granted the president this week.
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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15
'06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod)
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