There is only $26 bln in spending power for the Federal government under the current debt limit.
(Figures are in millions $)
You can see the full statement here.
Not much talk about this and the markets continue to kite higher. Negotiations on the debt ceiling remain at a stalemate. Oil prices at $112 now, other sensitive commodities surging. Is a crash coming? It "feels" like it.
3 comments:
I can see a crash coming, but don't think the debt ceiling will precipitate the crash. The Republicans will do as the finance industry wants them to do and increase the ceiling...
Krugman is picking a fight with MMTers again.
Crash ?
You mean run on the banks as soon as they ( the republicans and tea partiers ) put a leash on Bernanke
If he cannot swell the reserves, even cash will be hard to come by.
rapid rapid deflation
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