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The Treasury Department said Wednesday it expects to hit the government's debt ceiling by the end of February, putting pressure on Congress to raise the limit from its current level of $12.4 trillion.
Treasury said it is working closely with Congress to raise the ceiling. The Senate has approved legislation to increase it by $1.9 trillion to $14.3 trillion, but the House has yet to pass the measure. A ceiling that high would equal about $45,000 for every American.
We are at the point of no return. I'd not be surprised if it reachs to 20T dollars by next year.
Last edited by NEPatriot; 02-03-2010 at 11:07 AM..
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