Treasury Secretary Tim Geithner recently told lawmakers that even with passage of the payroll tax bill -- which will add an estimated $101 billion to deficits in fiscal year 2012 -- he doesn't expect the debt limit to be reached "until quite late in the year."
That's a hair past the Nov. 6 election but smack dab in the middle of the fiscal firefight that Congress is expected to have over the expiring Bush tax cuts.
Meanwhile, the Bipartisan Policy Center, which analyzed projected monthly deficits and other factors that could play a role in Treasury's borrowing, now projects that the debt ceiling could be hit between late November 2012 and early January 2013.
In any case the issue will be raised as the ceiling is approached. This I believe will help Ron Paul as he is fiscally conservative out of all the candidates. Perhaps the campaign should raise the issue sooner and use this against the spending the others have done and show that they are the problem not the solution.