Terence P. Jeffrey
July 16, 2013
According to the Daily Treasury Statement for July 12, which the U.S. Treasury released this afternoon, the federal debt that is currently subject to a legal limit of $16,699,421,095,673.60 has stood at exactly $16,699,396,000,000.00 for 56 straight days.
That means that for 56 straight days the federal debt has remained approximately $25 million below the legal limit.
Even though the portion of the federal debt that is subject to a legal limit has not changed in almost two months, the Treasury has continued to sell bills, notes and bonds at a value that exceeds the value of the bills, notes and bonds it has been redeeming.
The “public debt subject to limit”–as the Treasury calls the portion of the federal debt that is legally limited by Congress–first hit $16,699,396,000,000.00 at the close of business on May 17.
This article was posted: Tuesday, July 16, 2013 at 5:24 am