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The fiscal cliff
Since March 1962, Congress has raised the debt limit 76 times, according to the Congressional Research Service. Eleven of those times occurred in the past decade.

How high is the debt ceiling now? The ceiling is currently set at $16.394 trillion. The country's borrowing hit that mark on Dec. 31.

As a result, Treasury can't borrow any new money in the markets (although it still is allowed to rollover existing debt). So it has begun to use "extraordinary measures" to temporarily stave off the risk that the country will default on any of its obligations.


The remainder of the short top-level article at below link is a good overview of what could happen if the ceiling isn't increased by March 31st (including the trillion dollar coin option).

Full article:
http://money.cnn.com/2013/01/10/news/eco...ling-faqs/

If Jack Lew is confirmed as the new Treasury Secretary, he'll have his hands full straight out of the gate.
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Messages In This Thread
The fiscal cliff - by Maggot - 11-29-2012, 05:46 PM
RE: The fiscal cliff - by HairOfTheDog - 11-29-2012, 05:51 PM
RE: The fiscal cliff - by username - 11-29-2012, 05:56 PM
RE: The fiscal cliff - by Maggot - 11-29-2012, 06:00 PM
RE: The fiscal cliff - by Maggot - 11-29-2012, 05:57 PM
RE: The fiscal cliff - by Duchess - 11-29-2012, 06:18 PM
RE: The fiscal cliff - by username - 11-29-2012, 06:00 PM
RE: The fiscal cliff - by username - 11-29-2012, 06:07 PM
RE: The fiscal cliff - by HairOfTheDog - 11-29-2012, 06:19 PM
RE: The fiscal cliff - by Midwest Spy - 11-29-2012, 06:08 PM
RE: The fiscal cliff - by Duchess - 11-29-2012, 06:17 PM
RE: The fiscal cliff - by Maggot - 11-29-2012, 08:03 PM
RE: The fiscal cliff - by HairOfTheDog - 11-30-2012, 01:00 PM
RE: The fiscal cliff - by username - 11-30-2012, 01:04 PM
RE: The fiscal cliff - by Duchess - 11-30-2012, 01:13 PM
RE: The fiscal cliff - by Maggot - 11-30-2012, 02:57 PM
RE: The fiscal cliff - by username - 11-30-2012, 03:34 PM
RE: The fiscal cliff - by lbridgeland - 11-30-2012, 04:16 PM
RE: The fiscal cliff - by Duchess - 12-02-2012, 12:54 PM
RE: The fiscal cliff - by Midwest Spy - 12-04-2012, 12:23 PM
RE: The fiscal cliff - by Maggot - 12-04-2012, 12:53 PM
RE: The fiscal cliff - by Duchess - 12-04-2012, 12:55 PM
RE: The fiscal cliff - by Maggot - 12-04-2012, 01:05 PM
RE: The fiscal cliff - by Midwest Spy - 12-04-2012, 01:11 PM
RE: The fiscal cliff - by username - 12-04-2012, 01:27 PM
RE: The fiscal cliff - by Maggot - 12-04-2012, 01:57 PM
RE: The fiscal cliff - by Midwest Spy - 12-04-2012, 02:03 PM
RE: The fiscal cliff - by Jimbone - 12-04-2012, 01:38 PM
RE: The fiscal cliff - by username - 12-04-2012, 02:00 PM
RE: The fiscal cliff - by Maggot - 12-04-2012, 02:21 PM
RE: The fiscal cliff - by Midwest Spy - 12-04-2012, 02:25 PM
RE: The fiscal cliff - by Midwest Spy - 12-05-2012, 01:22 PM
RE: The fiscal cliff - by HairOfTheDog - 12-05-2012, 02:53 PM
RE: The fiscal cliff - by Maggot - 12-05-2012, 02:02 PM
RE: The fiscal cliff - by username - 12-05-2012, 02:35 PM
RE: The fiscal cliff - by Maggot - 12-05-2012, 03:19 PM
RE: The fiscal cliff - by HairOfTheDog - 12-05-2012, 03:39 PM
RE: The fiscal cliff - by username - 12-05-2012, 03:22 PM
RE: The fiscal cliff - by Jimbone - 12-05-2012, 03:47 PM
RE: The fiscal cliff - by username - 12-05-2012, 03:59 PM
RE: The fiscal cliff - by Jimbone - 12-05-2012, 04:02 PM
RE: The fiscal cliff - by Maggot - 12-05-2012, 03:45 PM
RE: The fiscal cliff - by HairOfTheDog - 12-05-2012, 03:50 PM
RE: The fiscal cliff - by Jimbone - 12-05-2012, 03:45 PM
RE: The fiscal cliff - by Duchess - 12-05-2012, 04:04 PM
RE: The fiscal cliff - by HairOfTheDog - 12-05-2012, 04:27 PM
RE: The fiscal cliff - by Duchess - 12-05-2012, 04:34 PM
RE: The fiscal cliff - by HairOfTheDog - 12-05-2012, 04:51 PM
RE: The fiscal cliff - by Jimbone - 12-05-2012, 05:44 PM
RE: The fiscal cliff - by Duchess - 12-05-2012, 04:29 PM
RE: The fiscal cliff - by HairOfTheDog - 12-05-2012, 04:41 PM
RE: The fiscal cliff - by Maggot - 12-05-2012, 05:54 PM
RE: The fiscal cliff - by cannongal - 12-20-2012, 09:05 AM
RE: The fiscal cliff - by Duchess - 12-20-2012, 09:09 AM
RE: The fiscal cliff - by cannongal - 12-20-2012, 09:15 AM
RE: The fiscal cliff - by username - 12-20-2012, 11:04 AM
RE: The fiscal cliff - by cannongal - 12-20-2012, 11:36 AM
RE: The fiscal cliff - by Maggot - 12-20-2012, 11:28 AM
RE: The fiscal cliff - by thekid65 - 12-20-2012, 12:04 PM
RE: The fiscal cliff - by Maggot - 12-20-2012, 12:09 PM
RE: The fiscal cliff - by HairOfTheDog - 12-20-2012, 10:07 PM
RE: The fiscal cliff - by Duchess - 12-21-2012, 08:00 AM
RE: The fiscal cliff - by username - 12-21-2012, 12:27 PM
RE: The fiscal cliff - by thekid65 - 12-21-2012, 08:08 AM
RE: The fiscal cliff - by Maggot - 12-21-2012, 05:25 PM
RE: The fiscal cliff - by HairOfTheDog - 12-26-2012, 02:38 PM
RE: The fiscal cliff - by FAHQTOO - 12-26-2012, 03:07 PM
RE: The fiscal cliff - by HairOfTheDog - 12-26-2012, 03:42 PM
RE: The fiscal cliff - by Duchess - 12-26-2012, 03:13 PM
RE: The fiscal cliff - by Midwest Spy - 12-26-2012, 03:31 PM
RE: The fiscal cliff - by Midwest Spy - 01-02-2013, 12:05 AM
RE: The fiscal cliff - by Maggot - 12-28-2012, 03:48 PM
RE: The fiscal cliff - by username - 12-28-2012, 04:07 PM
RE: The fiscal cliff - by BlueTiki - 12-29-2012, 11:03 AM
RE: The fiscal cliff - by cladking - 01-02-2013, 01:18 AM
RE: The fiscal cliff - by aussiefriend - 01-02-2013, 01:27 AM
RE: The fiscal cliff - by Duchess - 01-02-2013, 04:40 PM
RE: The fiscal cliff - by username - 01-02-2013, 04:52 PM
RE: The fiscal cliff - by Duchess - 01-02-2013, 05:00 PM
RE: The fiscal cliff - by username - 01-02-2013, 06:13 PM
RE: The fiscal cliff - by FAHQTOO - 01-02-2013, 06:47 PM
RE: The fiscal cliff - by username - 01-02-2013, 07:55 PM
RE: The fiscal cliff - by Maggot - 01-02-2013, 10:24 PM
RE: The fiscal cliff - by Maggot - 01-03-2013, 10:18 AM
RE: The fiscal cliff - by HairOfTheDog - 01-03-2013, 04:26 PM
RE: The fiscal cliff - by Duchess - 01-03-2013, 05:39 PM
RE: The fiscal cliff - by username - 01-03-2013, 05:48 PM
RE: The fiscal cliff - by Maggot - 01-03-2013, 05:55 PM
RE: The fiscal cliff - by Maggot - 01-03-2013, 05:56 PM
RE: The fiscal cliff - by username - 01-03-2013, 08:10 PM
RE: The fiscal cliff - by Midwest Spy - 01-03-2013, 08:16 PM
RE: The fiscal cliff - by Maggot - 01-03-2013, 08:32 PM
RE: The fiscal cliff - by username - 01-03-2013, 08:41 PM
RE: The fiscal cliff - by Maggot - 01-03-2013, 08:49 PM
RE: The fiscal cliff - by username - 01-03-2013, 09:04 PM
RE: The fiscal cliff - by Midwest Spy - 01-03-2013, 09:14 PM
RE: The fiscal cliff - by username - 01-03-2013, 09:23 PM
RE: The fiscal cliff - by Maggot - 01-03-2013, 09:14 PM
RE: The fiscal cliff - by HairOfTheDog - 01-03-2013, 10:21 PM
RE: The fiscal cliff - by username - 01-04-2013, 07:44 PM
RE: The fiscal cliff - by FAHQTOO - 01-04-2013, 08:01 PM
RE: The fiscal cliff - by Duchess - 01-04-2013, 08:07 PM
RE: The fiscal cliff - by cladking - 01-05-2013, 01:04 AM
RE: The fiscal cliff - by HairOfTheDog - 01-06-2013, 11:51 AM
RE: The fiscal cliff - by Jimbone - 01-06-2013, 12:24 PM
RE: The fiscal cliff - by username - 01-06-2013, 01:09 PM
RE: The fiscal cliff - by Maggot - 01-06-2013, 10:11 PM
RE: The fiscal cliff - by Maggot - 01-06-2013, 10:14 PM
RE: The fiscal cliff - by Jimbone - 01-06-2013, 10:17 PM
RE: The fiscal cliff - by HairOfTheDog - 01-08-2013, 06:19 PM
RE: The fiscal cliff - by OnBendedKnee - 01-08-2013, 06:53 PM
RE: The fiscal cliff - by HairOfTheDog - 01-08-2013, 07:30 PM
RE: The fiscal cliff - by Maggot - 01-08-2013, 08:58 PM
RE: The fiscal cliff - by HairOfTheDog - 01-09-2013, 11:49 AM
RE: The fiscal cliff - by Jimbone - 01-09-2013, 11:58 AM
RE: The fiscal cliff - by HairOfTheDog - 01-09-2013, 12:07 PM
RE: The fiscal cliff - by HairOfTheDog - 01-10-2013, 12:33 PM
RE: The fiscal cliff - by Duchess - 01-10-2013, 12:38 PM
RE: The fiscal cliff - by HairOfTheDog - 01-10-2013, 03:31 PM
RE: The fiscal cliff - by BlueTiki - 01-11-2013, 11:04 AM
RE: The fiscal cliff - by Midwest Spy - 01-11-2013, 12:08 PM
RE: The fiscal cliff - by Maggot - 01-11-2013, 11:37 AM
RE: The fiscal cliff - by HairOfTheDog - 01-18-2013, 10:41 PM
RE: The fiscal cliff - by Maggot - 01-18-2013, 10:50 PM
RE: The fiscal cliff - by Duchess - 01-19-2013, 07:24 AM
RE: The fiscal cliff - by username - 01-19-2013, 12:51 PM
RE: The fiscal cliff - by HairOfTheDog - 01-19-2013, 06:23 PM
RE: The fiscal cliff - by Maggot - 01-19-2013, 07:15 PM
RE: The fiscal cliff - by username - 01-19-2013, 07:24 PM
RE: The fiscal cliff - by HairOfTheDog - 01-23-2013, 09:25 PM
RE: The fiscal cliff - by Maggot - 05-08-2018, 12:18 PM
RE: The fiscal cliff - by Duchess - 05-08-2018, 12:30 PM
RE: The fiscal cliff - by Maggot - 05-08-2018, 01:02 PM