Debt ceiling: Treasury starts juggling act
May 17th, 2013
03:04 PM ET
2 years ago

Debt ceiling: Treasury starts juggling act

New York (CNNMoney) - The debt ceiling clock is about to start running again. The U.S. Treasury on Friday began using "extraordinary measures" to keep the country from defaulting on its obligations.

As part of a budget compromise in February, lawmakers suspended the country's legal borrowing limit at $16.394 trillion, and let Treasury keep borrowing to pay all the country's bills. But on Sunday the debt ceiling will automatically reset to a higher level reflecting the amount borrowed during the suspension period.

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Filed under: Debt
soundoff (15 Responses)
  1. jkane sfl the gop national disgrace party will be swept out like the trash they are in2014 ?

    Blame the gop idiots party , solution , kick the moronic gop terds out of the house in 2014 mid terms, the gop is to stupid to govern a first rare country, try bottom of the barrel country like somila . All you gop conservative morons should move there.

    May 17, 2013 03:11 pm at 3:11 pm |
  2. Wake up People!

    And here we go again........

    May 17, 2013 03:14 pm at 3:14 pm |
  3. Liberal Sense (Or lack thereof)

    This is where they give themselves raises while cutting all funding to the people.

    California unemployment now cut 17.69% because of sequester. Unemployment confirms cut is because of sequester.

    THANK OBAMA.

    May 17, 2013 03:15 pm at 3:15 pm |
  4. The Real Tom Paine

    Oh goodie, Rand Paul's favorite time of the year! What will the GOP downgrade us to this time? Of course, not a word on the fact that the debt has been reduced, the GOP does not want to focus on anything good.

    May 17, 2013 03:16 pm at 3:16 pm |
  5. PaulCat

    Isn't it time for congress to go on another paid vacation?

    They are working so hard at doing nothing.

    I asked my boss if I could do that. He said sure, but don't worry about coming back, he will just put my pink slip in the mail.

    May 17, 2013 03:27 pm at 3:27 pm |
  6. Sniffit

    Yes, but clearly, it's far more important for the House GOPers/Teatrolls to be focused on investigating a controversy they invented by leaking emails they falsified to the MSM. After all, the endgame here is to hamper economic recovery and blame everyone's suffering on Obama. Governing comes a distant distant second.

    May 17, 2013 03:31 pm at 3:31 pm |
  7. The Real Tom Paine

    -Liberal Sense (Or lack thereof)

    This is where they give themselves raises while cutting all funding to the people.

    California unemployment now cut 17.69% because of sequester. Unemployment confirms cut is because of sequester.

    THANK OBAMA.
    *****************
    Geez, and the Right always claimed slashing government spending would be good for us. Idiots.

    May 17, 2013 03:33 pm at 3:33 pm |
  8. Sniffit

    Meanwhile, the GOP/Teatrolls are refusing to allow the budget process to return to "regular order" as they've been saying should happen for so long because they're demanding that the "rules for negotiation" for conferencing the Senate and House budgets to resolve them essentially be set as "we get everything we want and you swear that you don't get anything you want and then we'll sit down to negotiate." In other words, they want to be declared the winners before the game even gets played, or else they're taking the ball and going home.

    May 17, 2013 03:38 pm at 3:38 pm |
  9. Rudy NYC

    Sniffit

    Yes, but clearly, it's far more important for the House GOPers/Teatrolls to be focused on investigating a controversy they invented by leaking emails they falsified to the MSM. After all, the endgame here is to hamper economic recovery and blame everyone's suffering on Obama. Governing comes a distant distant second.
    -----------------–
    Isn't it ironic? The Republicans are making all of this noise about "Obama Lied", when their proof of "Obamas Lies" has turned out to be a set of lies of their own, the falsified emails that they leaked to the media.

    May 17, 2013 03:44 pm at 3:44 pm |
  10. Dutch/Bad Newz, VA -aka- Take Back The House -aka- No Redemption Votes

    Still baffles me how the right wants to keep on cutting and cutting while deficit is shrinking and shrinking. Now they want to play this game again with the credit of the U.S. Words of wisdom to Congress: THERE WILL BE HELL TO PAY NOVEMBER 2014 IF WE DEFAULT ON OUR LOANS.

    May 17, 2013 03:54 pm at 3:54 pm |
  11. tibs

    We borrow money, let the politicians decide where it is spent, then when we have to pay it back, we just borrow more.

    Yeah that sounds like it'll work out real well.

    May 17, 2013 04:02 pm at 4:02 pm |
  12. Sniffit

    "Isn't it ironic? The Republicans are making all of this noise about "Obama Lied", when their proof of "Obamas Lies" has turned out to be a set of lies of their own, the falsified emails that they leaked to the media."

    Ironic AND predictable. What's also predictable is that the MSM rapidly stopped talking about Benghazi as much and is avoiding talking about the fact that the email doctoring is evidence that it was really the GOP/Teatrolls trying to fabricate a story out of Benghazi for election advantage, not Obama.

    Anyone wanna take a guess at who was the very first person to politicize Benghazi? Anyone? Hint: Might be hard to remember his name since he's nothing more than an also-ran.

    May 17, 2013 04:15 pm at 4:15 pm |
  13. just askin

    you mean obama and the democrats have blown through another 1-2 trillion dollars of debt that all of his useful idiots will have to repay??? should we just give obama to run up another 4-5 trillion dollars all at once because that is where he's heading? sure! why not what could possibly go wrong? right greece?

    May 17, 2013 04:36 pm at 4:36 pm |
  14. just sayin

    Anyone wanna take a guess at who was the very first person to politicize Benghazi?
    -–

    obama when he lied about it being the results of a you tube video.

    May 17, 2013 04:38 pm at 4:38 pm |
  15. Big Tex

    only 6% un-employment in Texas – and 28 million people in the whole state.

    May 17, 2013 04:48 pm at 4:48 pm |