[SE Mom]

OMG- they want up to $11 TRILLION?

WTH is going on?

[mnehring]

The $11Trillion is just the open line of credit, not how much they ‘want’, although I bet that line of credit will be maxed out unless there are stopgaps built in (ie, you can only access XX for this reason under these circumstances).

[PatriotGirl827]

I think the 11 trillion refers to the expansion of the budget deficit.

[McGruff]

Man I had to switch off FNC for the duration of those Billy Mays commercials. He's so annoying I switch the channel whenever he's selling something.

Dennis Kukookish giving his analysis now. Beam me up! Mister Speaker.

[snowsislander]

OMG- they want up to $11 TRILLION?

$11.3 trillion will be the new ceiling on the national debt. As of September 18, our national debt was $9,664,631,803,259.07. The current ceiling for the national debt had already gone up to $10.6 trillion.

The additional $700 billion would take the national debt ceiling to $11.3 trillion.

The story Rescue plan seeks $700B to buy bad mortgages has some more details.