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Tuesday, 15 October 2013

FINANCIALLY FINGERING FIASCO

It currently seems that one of the most likely outcomes of the current debate is a continuing resolution of the existing budget of $967 billion and a subsequent increase to the debt ceiling of a like amount. The problem, however, is that the run rate of debt by the current administration has been averaging about $1.1 trillion per year since 2008. This leaves an annual shortfall of roughly $133 billion.

Currently, the Senate Democrats and the White House, are pushing for an elimination of the debt ceiling entirely but are willing to settle for a "clean" continuing resolution to fund the government through 2014. The chart below shows the current projected rates of debt to real GDP through 2018 according to the CBO estimates versus the current annual run rate of $1.1 trillion.
by Lance Roberts of STA Wealth Management,



Lance Roberts of STA Wealth Management, Zero Hedge.com

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