CBS Newsreports that the National Debt has passed the statutory Debt Limit.
The latest calculation of the National Debt as posted by the Treasury Department has - at least numerically - exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill.
The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion.
No doubt the government will soon raise the spending limit. You can always find the latest National Debt number here, here and here.
