Economy: Government hits national debt ceiling AGAIN

With the federal government debt about to hit the $8.18 trillion legal limit, the Treasury Department last week suspended sales of special securities bought by state and local governments so that regular auctions of Treasury bills and notes could continue. More such steps undoubtedly will have to be taken in coming weeks until Congress screws up the courage to increase the debt limit. At some point next month, Treasury will run out of such stop-gap measures and regular securities auctions may have to be postponed. US National Debt Clock at $8.264 trillion Beware President Bush and Congressional Republicans trying to sell you permanent tax cuts!!