Total US Debt Hits $14.237 Trillion, Debt Ceiling At $14.294 Trillion

Tyler Durden's picture

And from the relentless shock and awe happening abroad every single day, we briefly turn our attention to the total financial chaos domestically. Following the settlement of $67.6 billion in debt from last week's auctions, the Treasury managed to raise its dangerously low cash to a level that will give Tim Geithner pocket change for another week, or $99.5 billion. Alas, the cash buffer came at a price: total debt increased from $14.166 trillion to $14.238 trillion. As a reminder, the debt ceiling is $14.294 trillion, so on a pure basis there is a $56 billion buffer or less than one's week's worth of auctions. However since the debt actually subject to the limit is $52 billion less, there still is $109 billion in constitutional capacity. Add to that the $45 billion in SFP run offs over the next two week and Treasury has $150 billion or so in spending money left. As the deficit in the month of March is expected by Zero Hedge to be around $90 billion due to the deferred tax refund payments, we believe the money will last the US a month and a half, although once again depending on the daily burn rate, it may come much sooner as there is no book debt settlement until the week after next.