$12.1 Trillion? Clearly Not Enough

WSJ: Geithner Asks Congress to Increase Federal Debt Limit

A couple high (low) points from the article:

"the Treasury projects that the current debt limit could be reached as early
mid-October. Increasing the limit is important to instilling confidence in
global investors, Mr. Geithner said."

Really? Making our debt even more massive is going to instill confidence?

The non-partisan Congressional Budget Office said Thursday the federal
government's budget deficit reached $1.3 trillion through the first ten months
of fiscal 2009, on track to reach a record high of $1.8 trillion for the
12-month period.

Lovely.