Congressional Budget Office: U.S. broke will run out of funds in Oct.

On March 15, 2017, the suspension of the debt limit expired and since then the Treasury has been able to borrow additional funds without violating the debt ceiling.

But, “the Congressional Budget Office projects that if the debt limit remains unchanged, those measures will be exhausted and the Treasury will most likely run out of cash in early to mid-October,” the report states.–Congressional Budget Office

I fully expect the U.S. to ultimately default on its debts directly or through a de facto default of inflating its debts away through money printing. I make no predictions of the exact timing, only that it is a certainty to happen. This will redistribute the default upon the backs of the “useless eaters” through the stealth tax of inflation. The lemmings must always bear the costs. I expect to see the greatest transfer of wealth in U.S. financial history from the paper pushers to people with tangible assets.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s