New Bipartisan Policy Center Analysis Shows Debt Ceiling Limit Fast Approaching

by Sabrina I. Pacifici on January 7, 2013

Could Hit Ceiling as Early as Mid-February: “An analysis released today by the Bipartisan Policy Center (BPC) confirms that the federal government will be unable to meet all of its spending obligations as early as mid-February unless the debt ceiling is raised. Click here to read the analysis. “Based on financial data from Treasury, we estimate that the government will be unable to pay all of its bills as early as February 15, also known as the X Date” said Steve Bell, Senior Director of the Economic Policy Project at BPC. “Our numbers show that we have less time to solve this problem than many realize. We estimate that Treasury will exhaust its borrowing authority and no longer have sufficient funds to meet its obligations in full and on time at some point between February 15 and March 1. It will be difficult for Treasury to get beyond the March 1 date in our judgment.”

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