Posted on 03/31/2017 10:29:59 AM PDT by Olog-hai
The portion of the federal debt that is subject to a legal limit set by Congress plummeted by $56,758,000,000 on March 15 hitting its lowest level of 2017, according to the Daily Treasury Statement.
On that same day, the federal debt hit its legal limit, according to the same Daily Treasury Statements.
For the 15 days since then, according to the Treasury’s statements, the debt subject to the limit has been frozen at $19,808,747,000,000—approximately $25 million below the new legal limit.
The debt was able to hit its legal limit—even on a day when it was plunging dramatically—because when the Republican Congress and President Barack Obama on Nov. 2, 2015 enacted the most recent legislation lifting the legal limit on the debt they did not actually set a new limit. Instead, they suspended the debt limit, which allowed the federal government to borrow money and run up new debt without any limit at all throughout the election year of 2016. …
(Excerpt) Read more at cnsnews.com ...
So when the so-called "debt ceiling" inevitably gets increased again, the official debt is going to go up... a lot.
Yep, that is because we are in “debt impasse”, and “extraordinary measures” have been implemented. Basically what happens is the Treasury can “skirt” the legal debt limit for a few months by using funds in various accounts such as Federal Retiree Pensions instead of issuing more debt (of course the former eventually has to be paid back with interest). So yes “technically” that number is correct in that the Treasury isn’t issuing any sort of securities because it has hit the legal debt limit.
Then you have all the liberals complaining about the cost of Trump flying to Mar A Lago on weekends. Sounds like a good return on investment to me.
merely a slight of hand.
The reported deficit for 2016 was $536B. The Government borrowed $1.4T.
Interest paid $432B in 2016 now with rising rates.
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