Bush signs debt limit increase
Reuters reports: Bush signs debt limit increase to $8.965 trillion
President George W. Bush on Monday signed into law a $781 billion increase in U.S. borrowing authority, making the Treasury Department’s new debt limit $8.965 trillion, White House spokesman Scott McClellan said.
We could have a morose contest; pick the date of the next debt limit increase. Right now the US is adding about $600 Billion per year to the National Debt. So it will take a little more than one year to add $781 Billion in debt.
My guess is August 24, 2007.
I also believe the National Debt will be above $10 Trillion when George W. Bush’s 2nd term expires in January 2009.
Best to all, CR Calculated Risk