Over the Debt Ceiling??

[DrCap]

I've got a bit of a problem with this:

"The debt limit was most recently raised to $12.104 trillion by the American Recovery and Reinvestment Act of 2009 (H.R.1), which was signed into law on February 17, 2009"

http://www.treasurydirect.gov/NP/BPDLogin?application=np

Current U.S. Debt: $12,113,047,538,115.42

Looks to me like we are currently a little more than $3 Billion over our credit limit... maybe that explains gold's move...

Congress better get running with raising that limit another $1T or so - they can't even keep up with their budget for a year. Maybe instead they could close down the museums again since that's where our government spends all its money anyway.

According to this source: http://www.fms.treas.gov/webservices/show/?ciURL=/dts/09113000.pdf
Fine print says we are still $47B below the limit due to 'debt not subject to limit'
Sickening nonetheless

 

[SevenEyedJeff]

They use certain accounting gimmicks and maneuvers to go over the limit for a short time.

 

[ghengis86]

the treasury has to refinance about $1T in short term debt in the next month, plus another $1.5T in long term notes and bonds. Add another trillion or two for the budget, and we're looking at ~4trillion in financing cash for the year....where the fuck is that going to come from? (gold plated tungsten bars?)

 

[ArchPaul]

the treasury has to refinance about $1T in short term debt in the next month, plus another $1.5T in long term notes and bonds. Add another trillion or two for the budget, and we're looking at ~4trillion in financing cash for the year....where the fuck is that going to come from? (gold plated tungsten bars?)

And, I just heard this morning obama is going to ask for MORE funding for Afghanistan!!!!

 

[LibertyEagle]

Does anyone feel like we're playing musical chairs?