Thursday, August 13, 2015

Treasury Says Debt Has Been Frozen at $18,112,975,000,000 on 150th Day


The U.S. Treasury building in October 2013 (AP Photo/Carolyn Kaster)
(CNSNews.com) - The portion of the federal debt that is subject to a legal limit set by Congress closed Monday, August 10, at $18,112,975,000,000, according to the latest Daily Treasury Statement, which was published at 4:00 p.m. on Tuesday.
That, according to the Treasury's statements, makes 150 straight days the debt subject to the limit has been frozen at $18,112,975,000,000.
$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.
On July 30, Treasury Secretary Jacob Lew sent a letter to the leaders of Congress informing them that he was extending a “debt issuance suspension period” through October 30.
In practice, that means that unless Congress enacts new legislation to increase the limit on the federal debt before then, the Treasury will continue for at least the next eleven weeks to issue Daily Treasury Statements that show the federal debt subject to the limit beginning and ending each day frozen just below that limit.
The Daily Treasury Statement for March 13 was the first to show the debt subject to the limit closing the day at $18,112,975,000,000. Every Daily Treasury Statement since then has reported the same thing: the debt closing the day at $18,112,975,000,000.
Every Daily Treasury Statement since Monday, March 16, has also reported the debt beginning and ending each day at $18,112,975,000,000.

Table III-C of the Daily Treasury Statement for Aug. 10, 2015--shown here in a screen capture--says that the federal debt subject to a legal limit set by Congress began the month of August at 18,112,975,000,000 and that it began the day of Aug. 10 at 18,112,975,000,000 and that it closed the day of Aug. 10 at 18,112,975,000,000.
Read More at:CNS News

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