Treasury Forecasts $16.763 Trillion In Debt On March 31 Translating To 105% Debt/GDP

Tyler Durden's picture

Earlier today the US Treasury released its latest Borrowing Estimates for Q1 and Q2 of calendar 2013. In brief: in the ended quarter, the Treasury borrowed some $297 billion, $9 billion more than the $288 billion previously predicted. One reason for this miss is the build up of cash in the quarter which ended at $93 billion instead of the $60 billion initially expected. However the extra cash buffer will be used in Q1, in which Treasury now expects to burn some $63 billion instead of the $30 billion forecast before, ending the quarter with $30 billion in cash. To get there, Treasury will need to raise some $331 billion in debt in January through March, just shy of the prior estimate of $342 billion in funding need in this quarter. And since the US debt to the penny counter has been stopped since the debt ceiling breach, and is still at the December 31, 2012 debt limit of $16.432 billion, this means we now know, approximately, that US debt on March 31, 2013 will be $16,763,730,050,569.10, give or take a dime, or said otherwise, assuming a generous 1% sequential growth in Q1 GDP, a 105% debt/GDP in two months.

From the Treasury:

And what this means:

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moroots's picture

Debt is wealth, we're rich bitchezz!

Piranhanoia's picture

We borrowed it from Hortek,  who borrowed it from Vlad. He got part of it from Suki, that called in a loan from Brad.  It was a no account receivable originally written off,  None of it legitimate when all knew that it was toff.  Guaranteed by Romulus, Remus had no part,  distributed by Sphincterius and did it smell like art.  Twas hypothecated serially, the odor was extreme, it came back unrecoverable and no one's hands were clean. It dissapated suddenly when the wind began to blow and has not been seen since then. A new claim has been found to show it belonged to uncle Ben.

kito's picture

anybody notice that the deficit is rolling backwards? check out click on 2017 and the deficit is only 155 billion.....interesting............................

Hedgetard55's picture

Do you pronounce your moniker "kite-oh" or "key-toe"?

kito's picture

i dont know because ive never uttered it before.....wait....let me try.....yes, its definitely key-toe.............

IridiumRebel's picture

Says 22.we're fucked trillion on my screen, but then I seem to get reality on my cpu, yet the rest of the world gets different numbers......

yogibear's picture

Surprise, no downgrades!!!! The US justice department payed the rating agencies a visit and threatened them.

You are living in the new Soviet  Union comrades!!! Central planning.

Everybodys All American's picture

Certainly was no coincidence that the debt ceiling increase was signed into law today by the chairman.

Bam_Man's picture

According to "Modern Monetary Theory", this is a problem that can be completely eliminated with fewer than seventeen Platinum Coins.

Party on, bitchezzzz!

Bunga Bunga's picture

As long as you can make the Chinese accept these coins, yes.

Herdee's picture

Hugo and Barack are both Masons.Anyone who thinks they are enemies is sadly mistaken.

Falconsixone's picture

coach says i gotta give 110% to keep up with debt

Colonel Klink's picture

Projected!   Bwahahahahahaha, that's rich!  Oh wait...correction.  That's debt!