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America Maxes Out Its Credit Card Again - Treasury To Raise Debt Limit By Another $1.2 Trillion On December 30


Submitted by Tyler Durden on 12/27/2011 10:22 -0500

• Consumer Confidence
• Debt Ceiling
• Gross Domestic Product

You didn't think US consumer confidence could be bought for free now did you?

• U.S. TREASURY SAYS DEBT LIMIT TO BE RAISED BY $1.2 TRILLION
• U.S. DEBT TO BE $100 BLN WITHIN LIMIT ON DEC. 30, TREASURY SAYS
• STEPS FOR INCREASING DEBT LIMIT UNDER 2011 BUDGET CONTROL ACT

And the piece de resistance that 100% debt to GDP brings:

• OBAMA ON DEC. 30 LIKELY TO ASK CONGRESS TO RAISE DEBT LIMIT

Just as we thought the circus was over if only for a few weeks. Also, this means that in a few days, the US debt ceiling will be raised from $15.194 trillion to $16.394 trillion. As a reminder, US GDP was just revised down to $15.176 trillion.
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