It's official: U.S. hits debt ceiling
December 31st, 2012
06:30 PM ET
10 months ago

It's official: U.S. hits debt ceiling

New York (CNNMoney) – It's official: U.S. debt will reach its legal borrowing limit on Monday, giving Congress about two months before it must raise the debt ceiling or risk causing the government to default on its bills and financial obligations.

"I can confirm we will reach the statutory debt limit today, Dec. 31," a Treasury Department official said.

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Filed under: CNNMoney.com • Debt
soundoff (6 Responses)
  1. myviewis

    Democrats don't care and perhaps we should learn from Democrats.

    December 31, 2012 06:39 pm at 6:39 pm |
  2. Sueb

    Hope the republicans in Congress are proud of themselves. The house members wouldn't want to miss their New Year's eve parties....to do their jobs, fulfill their oaths to the people of the United States and keep themselves from making themselves completely obsolete and useless.

    December 31, 2012 06:47 pm at 6:47 pm |
  3. Ancient Texan

    Another big "cliff" to fall off of....But the present administration has no intention of stopping their insane spending binge so we'll continue to borrow and spend under Obama's royal decrees.

    December 31, 2012 08:35 pm at 8:35 pm |
  4. Anthony in California

    Before a single thing is said about Obama, please remind me again how many times GWB had the ceiling raised?

    December 31, 2012 09:01 pm at 9:01 pm |
  5. GI Joe

    We will be borrowing money for decades to come to pay for Bush's wars and his frivolous tax cuts twice during war. Shame on the old Idiot.

    December 31, 2012 09:47 pm at 9:47 pm |
  6. S.B. Stein E.B. NJ

    We should do away with the debt ceiling.

    December 31, 2012 11:22 pm at 11:22 pm |