Federal borrowing on pace to hit debt limit in less than week

Vince Coglianese Contributor
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(CNSNews.com) – Federal borrowing is on pace to hit the legal limit on the national debt in less than a week.

As set in a law passed by Congress and signed by President Barack Obama on Feb. 12, 2010, the legal limit on the national debt is $14.2940 trillion. As of the close of business Tuesday, according to the Daily Treasury Statement released at 4:00 pm today, the portion of the national debt subject to this legal limit was $14.268365 trillion. (The total national debt, including the portion exempted from the legal limit, was $14.3205 trillion.)

Full Story: Federal Borrowing on Pace to Hit Debt Limit in Less Than Week | CNSnews.com

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Vince Coglianese