Wednesday, April 8, 2015

Obama Treasury Claims Federal Debt Frozen For 21 Days

There you go... if the debt keeps going up, just claim that it's not. In another headline, Obama announced yesterday that the wheat harvest was up...

(CNS News) According to the Daily Treasury Statement for Friday, April 3, which was published by the U.S. Treasury on Monday, April 6, that portion of the federal debt that is subject to a legal limit set by Congress closed the day at $18,112,975,000,000—for the 21st day in a row.

$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.

The debt first hit $18,112,975,000,000, according to the Daily Treasury Statement, on March 13, which was the day Treasury Secretary Jacob Lew sent a letter to House Speaker John Boehner and other congressional leaders saying that he was planning to declare a “debt issuance suspension period.”

This was necessary, Lew explained, because in 2014 Congress enacted legislation that “suspended” the debt limit until March 15 and then reinstated it on that date at whatever level the debt had reached by then.

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Posted By: Chris Carmouche