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The Treasury Department has shed little light on what actions it would take if the country breached the ceiling.
It has risen from 4.2% in October 2009 to just over 6.5% in April, when it breached the ceiling of the Central Bank's target.
France, which has also breached the ceiling, plans to present a new plan to reduce its deficit next week in Brussels.
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Jordan, as it turns out, revealed himself to be a Debt Ceiling Truther-Doofus -- he suggested that breaching the ceiling was no big deal.
The OBR says it will breach the ceiling set in 2008, rising to more than 173%, by 2019.
Investors may be strategizing that even if they personally don't believe the country will actually breach the ceiling, other fools may.
If the gap remains above 3percentt for the year, it will breach the ceiling set by treaty for the 12 members of the monetary union.
It concludes that interest rates will be cut to 1% (from today's 2%) by early next year.Germany is certain again this year to breach the ceiling set by Europe's stability pact for its budget deficit of 3% of GDP.
On the debt ceiling matter, there's consensus that breaching the ceiling has become a political loser for the GOP, which is welcome news -- it's the same thing as saying that getting whacked on bath salts and killing your familt with your bare hands has become a "political loser".
Shortfalls at those levels breach the ceilings set by European Union's Stability and Growth Pact, which limits deficits to three percent of gross domestic product.
That the index temporarily breached the 13,000 ceiling this week was "certainly a statistical milestone," said Bernard Baumohl, chief global economist at the Economic Outlook Group.
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