US Is Already Over the Debt Limit

[From article]
"According to everything you've heard, the US will reach its borrowing limit next Tuesday, or maybe the Tuesday after that, or the one after that -- depending on which clown you are paying attention to.
Well, here's news for you -- we are already over the limit and through the ceiling.
[. . .]
But as of July 25 -- which was this past Monday -- the nation's "total public debt outstanding" was $14.343 trillion. If you don't believe me, look it up at treasurydirect.gov/NP/BPDLogin?application=np.
[. . .]
Of that $14.34 trillion in debt, $4.6 trillion is intergovernmental loans -- mostly borrowings from Social Security.
[. . .]
Nothing Washington will do on the debt limit, whether it's spending cuts or tax increases, is going to help the econ omy. In fact, it'll do the opposite. You can't lay off government work ers or raise taxes without the economy slowing.

http://www.nypost.com/p/news/business/in_dc_the_sky_is_really_the_limit_rV2a4vHSS6KW5RM3RKSdEP

In DC, the sky is really the limit
John Crudele
New York Post
Last Updated: 9:23 AM, July 28, 2011
Posted: 12:21 AM, July 28, 2011