Jan. 7, 2013
The United States hit its debt limit on December 31, 2012. The Treasury Secretary then began tapping into roughly $200 billion of emergency borrowing authority – referred to as “extraordinary measures” – to allow for an additional period of fully-funded government operations.
In 2011, extraordinary measures extended the federal government’s ability to pay its obligations from May 15 until August 2. They won’t buy as much time as they did last summer.
The following sections of BPC’s Debt Limit Analysis (below) were substantially updated today: X Date chart (slide 16); Prioritization (slides 29-32); and Market Risk (slides 46-53).
In the News
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