Tuesday, August 02, 2011

Hallelujah - New Debt Limit is $16.7 Trillion - Now we can go deeper into Debt

New Federal Debt Limit .... $16,700,000,000,000

Congress & the President just passed & signed a New Debt Limit.

Increasing the statutory limit on the debt from $14.294 trillion to $16.7 trillion gives the Treasury Department the additional money it needs to keep borrowing through the 2012 elections.

It is the 4th. time the Debt Limit has been increased since February 2009.

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