by Peter Schiff, Schiff Gold:

Since the end of the fake debt ceiling fight on June 2, the Treasury has borrowed an additional $700 billion pushing the national debt over $32 trillion. Looking at the interest rates on this new debt, it becomes clear that the US government has a big problem.

The surge in borrowing in the wake of the debt ceiling deal was expected. The Treasury is playing catch-up after nearly six months up against its borrowing limit. But even after the Treasury replenishes the federal government’s checking account (called the Treasury General Account or TGA at the New York Federal Reserve Bank), borrowing won’t suddenly stop.