This ended up a longer post than I intended. I discuss current federal outlays and receipts and the debt limit. The sad fact is neither political party seem to treat the issue seriously.
Just a short rant about the deficit situation from the latest Washington deal.
It surprised few that the debt ceiling is a topic of discussion again, although the way this is unfolding may actually be a surprise. The leaders of the House of Representatives and the Senate both seem convinced there will be an approval of a debt ceiling increase before the end of the government’s fiscal year. For the time being markets seem to largely believe this.