U.S. to hit new debt ceiling within 10 days?

New debt ceiling: $14.694tr
-Current: $14.668tr
____________________
$26bil until we hit the ceiling.

We spend around $2.5bil every day

26/2.5= 10.4 days

source

or it doesnt exist

reply to post by Eavel


Well the U.S. Debt Clock agrees with his numbers.

It wouldn't surprise me a bit.

well the hit the "original" debt raise in TWO days, so theyve shown spending is no problem.......
or is it?

No worries,.
Like the Doritos motto.
we'll make more

New debt ceiling:
www.washingtontimes.com...

Current debt:
www.usdebtclock.org...

The 2.5bil came from my own math, timing the debt. We spend $1,000,000 every 37 seconds. There are 86,400 seconds in a day.

Last year we spent 3.5bil a day;

According the Congressional Budget Office, our total federal deficit for 2010 was approximately $1.3 trillion. That means that every day, the government will accumulate an average of $3,561,643,835.62 in additional debt. [$1.38 trillion / 365 = (approx. $3.56 billion per day)]. Accordingly, nearly $150 million of debt is being accumulated every hour. [$3,561,643,835.62 / (24 hours) = $148,401,826.48] And every minute, the U.S. government accumulates approximately $2.5 million in additional debt. [$148,401,826.48/ (60 minutes) = $2,473,363.77] That’s $43,759.51 a second. [$2,473,363.77 / (60 seconds) = $41,222.72]

www.defeatthedebt.com...

I don't believe it. Not with all the brilliant, well intentioned problem solvers in Washington.

reply to post by BlackStar99
Oh boy, here it comes again - republicans and the TEA party are the new al qaeda if this is correct and they decide to offer any resistance to yet another bollocksed compromise, since the universe will utterly collapse if the US cannot continue to go further and further in debt until the end of time...

reply to post by Eavel


Go look for yourself. Your on the INTERNET!

This article says the current ceiling is $16.7 Trillion?

Does the new compromise have some automatic incremental raises?

Originally posted by Mendize
reply to post by Eavel

 

Go look for yourself. Your on the INTERNET!

It's pronounced INTERNETZ. Gosh!

And yeah I heard that the debt ceiling would need to be raised in a month, the day after the debt ceiling was raised. So yeah, 10 days sounds about right.

Originally posted by Mendize
reply to post by Eavel

 

Go look for yourself. Your on the INTERNET!

Simple minded people are a bit annoying.

You pay your BILLS right? how long can you go before you have to pay your BILLS again?

It is not setup to pay the bills daily..... sheesh We are paid ot for awhile the rest is slush funds for the first ladies vacations

Originally posted by getreadyalready
This article says the current ceiling is $16.7 Trillion?

Does the new compromise have some automatic incremental raises?

edit on 30-8-2011 by getreadyalready because: (no reason given)

Good question, I'm looking and can't seem to find any other sources for the new debt ceiling...

this is exactly why "government math" is so different from normal peoples math. imagine if a large group of well intentioned people together and could actually keep tabs on everything they spend

the funding for "black" projects must come from gun/human/drug sales. that way even good economists cant point those out. they dont want you knowing, plain and simple, same with the news, we should know this by now

They will keep raising and raising it, this is becoming a bit of a joke.

reply to post by MysticPearl


I know it.

We have a revenue problem, not a spending problem.

Few more weeks yet,however end of sept into october your going to see a massive collapse.What is happening in the markets at present is only games compared to what is coming.
Yes the math is there and no matter how many times you go through it,the result is the same,the global financial system backed by debt is going to go KABOOM.
The figures do not lie,however our governments will.

Originally posted by getreadyalready
This article says the current ceiling is $16.7 Trillion?

Does the new compromise have some automatic incremental raises?

edit on 30-8-2011 by getreadyalready because: (no reason given)

Obama has been given the authority by congress to raise it by himself until 16.7 trillion. He can raise it in 3 phases.

14.694 trillion (first phase) 15.194 trillion (second phase) 16.694 trillion (final phase)

The first phase is about to be reached... it will be reached in September. Obama has to raise it by himself... which he will...

The ONLY WAY it doesn't increase is if congress pass a bill to stop Obama from doing so... which won't happen with democrats controlling the senate.

The debt ceiling bill showed the republicans for what they really are... they are for the increase in debt, just like democrats, they just want to pin the responsibility on Obama...

reply to post by Vitchilo


HOLY CRAP!!!!

Vitchilo got an avatar !!!


wait a minute, let me check....

[atsimg]http://files.abovetopsecret.com/images/member/ed07fdf6e2f3.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/737d18217c1a.gif[/atsimg]



I better pack my ice skates.

Even if it does, and I wouildn't doubt it, they're not allowed to bicker about it again until after the 2012 elections?

Wasn't that the dealio?