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DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Debt Ceiling Showdown: GO... » Reply #9

Response to veganlush (Reply #8)

Fri Jan 4, 2013, 01:08 PM

9. No, it won't be

The "trillion dollars" in sequestration is over the course of ten years. The debt ceiling needs to be raised to cover about 900 billion in excess spending (over revenues) in one year.

So they'd be about 800 billion short this year. Obviously we are going to borrow most that money, sooner or later. The Fed is pushing cuts to entitlement to make the future debt trajectory look better.

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