The debt ceiling is now $16.394 trillion. As of yesterday the debt stands at $16.323 trillion. As we know, the debt always increases a lot at the end of each month. So expect a huge move upwards next week.
Although total public debt is $16.323 trillion, the media is saying treasury debt only stands at $16.270 trillion right now and they try to convince us that they have time till February next year before government shuts down. If we use the total public debt outstanding though, we are already above the debt ceiling next week.
But ultimately we know better, the debt ceiling will be increased the 41th time soon (or even abolished if it were Tim Geithner's choice) and life will go on.
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| Chart 2: Debt Ceiling: $16.394 trillion |
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