This statement is closed.
Decision: False

The US debt limit will be raised before midnight 31 Dec 2012

The U.S. continues its descent into the bottomless pit of debt, and the Treasury Department expects to hit the $16.39 trillion borrowing limit before the end of this year. In order to avoid spending cuts Congress is likely to raise the debt limit, but because many in Congress oppose going deeper into debt and are likely to vote against raising the debt limit, this is not guaranteed. Raising the debt limit can be postponed for a short time by shuffling funds among accounts, delaying some payments and suspending programs, or permanently by balancing the budget.

Info

Opening date: Aug. 12, 2012
Bet deadline: Dec. 24, 2012 end of day Eastern Time
Event date: Dec. 31, 2012 end of day Eastern Time
Category: Economics
Total agree bets: 3.50
Total disagree bets: 5.21
Total weighted agree bets: 5371.268
Total weighted disagree bets: 2189.843