US Hits Debt Ceiling Limit on December 31; Geithner Unveils Treasury Plan to Buy More Time

US Hits Debt Ceiling Limit on December 31; Geithner Unveils Treasury Plan to Buy More Time

by noreply@blogger.com (Mike Mish Shedlock)

On December 31 the US will once again hit the debt limit and Treasury Secretary Tim Geithner is working on an emergency plan to deal with the situation.

Here's the kicker. If the Fiscal Cliff hits (which it likely will), the increased tax revenue and spending cuts would automatically buy the Treasury some time.http://globaleconomicanalysis.blogspot.com/2012/12/us-hits-debt-ceiling-limit-on-december.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29