Tuesday, January 8, 2013

U.S. Treasury To Run Out Of Money By Feb. 15, Study Says

 From Forbes: Bipartisan Policy Center report says Treasury tapping emergency funds as of Dec. 31 to meet financial obligations. Measures will run dry as early as Feb. 15.

If you thought part III of the U.S. fiscal crisis story was going to be released in March, your wait has been cut short by roughly two weeks.  We don’t know how unlucky we are.

According to the Bipartisan Policy Center (BPC), a Washington think tank founded by former Republican and Democratic senators, the U.S. will run out of money to meet its obligations around Valentine’s Day.

Mid-afternoon Monday, the BPC released a report saying Washington reached its borrowing limits sooner than later and moved the so-called “X date” to as early as Feb. 15….

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