“Currently the Treasury is just $81 billion from the $16.394 trillion debt ceiling limit. This limit is expected to be reached in the next two weeks. After that the Treasury will run down its cash balances and ‘borrow’ from government trust funds and pension funds. This should allow the government to fund itself through February. As a side note, if a private sector company funds itself by running down cash balances and raiding trust and pension funds, everyone goes to jail. When the government does it, it is considered sophisticated asset/liability public sector management.” Jim Bianco, November 28, 2012
Via: BR
