70 Straight Days: Treasury Says Debt Stuck At Exactly $16,699,396,000,000.00

Treasury Seal SC 70 Straight Days: Treasury Says Debt Stuck at Exactly $16,699,396,000,000.00

According to the Daily Treasury Statement for July 26, which the Treasury released this afternoon, the federal debt has been stuck at exactly $16,699,396,000,000.00 for 70 straight days.

That is approximately $25 million below the legal limit of $16,699,421,095,673.60 that Congress has imposed on the debt.

The portion of the federal debt subject to the legal limit set by Congress first hit $16,699,396,000,000.00 at the close of business on May 17. At the close of every business day since then, it has also been $16,699,396,000,000.00, according to the official accounting published by the Treasury Department.

If the debt had increased by even $30 million at any time during those 70 days, it would have exceeded the statutory limit. But, according to the Treasury, the debt did not do that. Instead, it remained precisely $16,699,396,000,000.00.

Even though the government’s official accounting of the debt has not budged for 70 days, the Treasury has continued to sell bills, notes and bonds at a value that exceeds the value of the bills, notes and bonds it was redeeming.

Read More at CNS News . By Terence P. Jeffrey.

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