We’ll Probably Hit the Debt Ceiling Next Week, Not This Week


Just a quick note about the debt ceiling battle that I think is getting a bit lost: although the Treasury Department hasn’t officially modified its October 17 estimate of doomsday, it seems almost certain that it’s no longer the most likely date that we run out of money to pay our bills. The government shutdown hasn’t stopped a ton of spending, but it has stopped some spending, and the Bipartisan Policy Center’s most recent analysis of cash flow suggests that money will run dry sometime between October 22 and November 1.

So if October 17 comes and goes and Armageddon hasn’t arrived, don’t be too surprised and don’t listen to conservatives who claim that this means the whole thing has just been a big scam all along. We’re still on track for doomsday, but most likely it will arrive next week, not this week.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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