The US Treasury has released its revised debt issuance/funding schedule for the fourth quarter of 2010 as well its fresh estimates for the first quarter of 2011 borrowing needs.
I won't bore you with all the details. There are only two things you need to take away here. (1) It will be revised upward again and, (2)the bottom line is that when all the debt funding is added up it results in US debt of $14.357 trillion.
That figures just happens to be $63 billion more than the recently revised debt ceiling of $14.294 trillion. Thus the US debt ceiling will have to be revised higher at some point in 2011.
Make no mistake... the money printing is only just getting started.
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I won't bore you with all the details. There are only two things you need to take away here. (1) It will be revised upward again and, (2)the bottom line is that when all the debt funding is added up it results in US debt of $14.357 trillion.
That figures just happens to be $63 billion more than the recently revised debt ceiling of $14.294 trillion. Thus the US debt ceiling will have to be revised higher at some point in 2011.
Make no mistake... the money printing is only just getting started.
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Email: village_whisperer@live.ca
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