Update on Debt Ceiling

February 28, 2013 – Sequestration: The “fiscal cliff” bill created a new manufactured crisis that will happen sometime at the end of February. This is when the sequestration can was kicked down the road.

  • March 31, 2013 – Continuing Resolution: The current Continuing Resolution that the government is operating under expires on March 31. This means that they will have to pass a CR between now and then.
  • April 15, 2013 – Budget Resolution: This is the date by law in which both Houses should have a budget resolution passed. We are already hearing that the President is late in submitting his budget, the House is reporting that they will not meet their deadline for a budget, and the Senate… well they haven’t passed a budget in over 1,350 days.
  • May 15, 2013 – Debt Ceiling: The law that suspends the debt ceiling expires. At that point the Treasury will not be able to borrow additional money to finance this year’s deficit.

Lisa Nancollas, lnancollas@aol.com
Mifflin County Tea Party Patriots, Coordinator

Tea Party Party Patriots PA State Coordinator

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