U.S. Debt Limit Stands at $17.2 Trillion, Treasury SaysIan Katz
The new U.S. debt ceiling is $17.2 trillion, the Treasury Department said in a report today as members of Congress prepared to vote on a measure to suspend the restriction on the nation’s borrowing capacity.
The limit was higher than the $16.7 trillion reported before it was suspended effective Oct. 17 through Feb. 7. The debt limit increased by the amount the Treasury borrowed during that period. About half of that debt was linked to restoring funds from so-called extraordinary measures the Treasury used to stay under the debt ceiling during last year’s impasse with Congress.
The House of Representatives will vote tonight on suspending the limit without conditions, a Republican leadership aide said. House Speaker John Boehner, an Ohio Republican, said Democrats will need to back the measure suspending the debt ceiling until March 15, 2015, which he said will get minimal Republican support.