Government 8 Day Deficit: $90 Billion

To say our government is spending like drunken sailors would be a disservice to drunken sailors everywhere.

Via Zero Hedge:

More scary stuff from the US Treasury which has resumed living auction to auction, even as it has plundered over $80 billion in G and CSRD retirement fund money to provide cap under the debt ceiling, a number which will eventually rise to $270 billion by August 2nd at which time all bets are off unless the politicos in DC finally relent with their soap opera and allow the inevitable $2 trillion debt ceiling hike (which probably won’t happen. Instead Congress will start voting on incremental $200 billion debt ceiling hikes month to month in order to keep the public glued to their TV in a demonstration of just how fiscally prudent Congress is). In the meantime, here’s the math: in the first 8 days of the month of June, the Treasury has seen its cash balance decline from $112.6 billion to $23.5 billion: a solid burn rate of $90 billion in just over a week.