February 27th - The Next Debt Limit Date

The US Debt limit is once again in view. Treasury Secretary Jack Lew sent a letter to the Congressional leadership stating that the “extraordinary measures” that the federal government uses to fund operations after the nation has reached the debt ceiling will not “last beyond Thursday, February 27.”

The suspension of the debt ceiling ended Friday, once again placing the US debt obligations in question.

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After last years Government shutdown and stall related to the debt limit negotiations the House Republicans are poised to introduce a bill that would shift the Debt Limit into the first half of 2015. Effectively playing another game of kick the debt can.

The shift and extension would benefit both parties by allowing the next round of Debt Limit debates to be held after the 2014 mid-term elections. This would give both parties breathing room and the party that makes the first move to quell the Debt Limit problems would have the better position going into the mid-terms.

The clock is ticking once again.

Treasury Secretary Lew says that if the debt limit is not suspended or increased by the 27th treasury will only have $50 Billion on hand. This balance would depend on the amount of tax refunds treasury would be obligated to pay out to US tax payers.

The $50 billion will not last long as the United States daily expenditures can exceed $60 billion.

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