After last weeks treasury auctions were settled, the US debt has now reached a staggering $14.237 Trillion. This is less than $56 Billion dollars below the legal debt ceiling of $14.294 Trillion.
Even with the temporary 3-week spending bill passed by the House of Representatives on Tuesday, all indications are pointing to either a showdown between fiscal conservatives and old guard Republicans to raise the debt ceiling, or, a capitulation by all sides to let the government shutdown.
In an article today by Zerohedge, even with the treasuries sold last week, the government has about $150 Billion in funds they can actually use under law.
However since the debt actually subject to the limit is $52 billion less, there still is $109 billion in constitutional capacity. Add to that the $45 billion in SFP run offs over the next two week and Treasury has $150 billion or so in spending money left. As the deficit in the month of March is expected by Zero Hedge to be around $90 billion due to the deferred tax refund payments, we believe the money will last the US a month and a half, although once again depending on the daily burn rate, it may come much sooner as there is no book debt settlement until the week after next.