The Return of the Debt Ceiling

financialsense.com / INDEPENDENT INSTITUTE / 03/02/2017

On March 15, 2017, the US government’s statutory debt ceiling for its total public debt outstanding will go back into effect at whatever level of accumulated national debt is on the books as of that date. CNBC has marked the date on their calendar.

After a 15-month hiatus, Congress is once again warming up for another round of self-inflicted budget “crises” that have become all but standard operating procedure when the Treasury needs to raise the limit of its borrowing authority.

That’s right: The “debt ceiling” is back.

The budgetary bottleneck arrives again next month, when the latest suspension of the limit expires on March 15. Back in October 2015, Congress decided to punt on the issue by suspending the debt ceiling—with a hard end date.

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Read more ... source: The Bitcoin Channel

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