Report: Debt ceiling to be hit in mid-October


Time for writers/pundits/bloggers to get their keyboards revved up - the U.S. Treasury debt limit is set to be reached in mid-October, reports Dow Jones, citing sources close to the matter. That the debt ceiling would again be an issue was not in question, but this puts a bit of a firmer date on the timetable.

The 2011 fight combined with EU debt-crisis jitters to offer up major buying opportunities in both stocks and bonds.

Comments (12)
  • mickmars
    , contributor
    Comments (1312) | Send Message
     
    yawn... just kick the can again.
    26 Aug 2013, 04:02 PM Reply Like
  • Lakeaffect
    , contributor
    Comments (1450) | Send Message
     
    First we start a war. Then the conservatives all fall in line for the increased debt limit. Done and Done.
    26 Aug 2013, 04:15 PM Reply Like
  • mobyss
    , contributor
    Comments (2596) | Send Message
     
    “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. government can’t pay its own bills. ... I therefore intend to oppose the effort to increase America’s debt limit.”

     

    Spoken by a young Senator from Illinois in 2006...

     

    We should take his advice.
    26 Aug 2013, 06:05 PM Reply Like
  • Reel Ken
    , contributor
    Comments (6534) | Send Message
     
    Yep, before we even have a chance to pay off Bush's war.
    27 Aug 2013, 12:16 PM Reply Like
  • Pursuing Financial Freedom
    , contributor
    Comments (45) | Send Message
     
    I hope they can stir up some good drama. I would like to initiate a few positions this fall at lower prices.
    26 Aug 2013, 04:08 PM Reply Like
  • JHLLC
    , contributor
    Comments (166) | Send Message
     
    Let's see... it's the middle of August and we're just now finding out about something that will happen about 8 weeks from now. Is it THAT difficult to forecast?

     

    Or have the "sources" known this long before now and are timing the release of this information for maximum effect?
    26 Aug 2013, 04:45 PM Reply Like
  • Squeeky Wheel
    , contributor
    Comments (350) | Send Message
     
    It is that difficult. Tax revenue depends highly on the economy and the gov is not god at predicting that. Spending also depends highly on the economy (through safety net programs).

     

    It was well published that the limit would be hit sometime between October and mid-Dec. This just firms up the date a bit. And yes, it's probably timed to pressure congress as well.
    27 Aug 2013, 01:56 AM Reply Like
  • JHLLC
    , contributor
    Comments (166) | Send Message
     
    Squeeky: Points well taken. As for well published, I haven't seen anything for months (which is my fault, of course). I'm probably relying too much on SA for news!
    27 Aug 2013, 08:55 AM Reply Like
  • buyandhold???
    , contributor
    Comments (907) | Send Message
     
    once again....no way we taper...who saw the durable goods number...down 7%!!! yikes
    26 Aug 2013, 05:27 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (3443) | Send Message
     
    Hope and change, hope and change; turns out it is nightmare and hell, nightmare and hell...
    26 Aug 2013, 05:47 PM Reply Like
  • Swisser998
    , contributor
    Comments (147) | Send Message
     
    This is why I hold a large percentage of my assets in gold...the only TRUE money.
    26 Aug 2013, 09:35 PM Reply Like
  • BruceInKY
    , contributor
    Comments (445) | Send Message
     
    Whiskey looks pretty good too, and more fungible.
    26 Aug 2013, 09:50 PM Reply Like
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