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Treasury Was Open for Business on 3rd Day of ‘Shutdown:’ Issued $106B in New Debt

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Terence P. Jeffrey
CNS News
October 7, 2013

Although politicians and the press have generally referred to what has been happening in the federal government since Tuesday, Oct. 1 as in a “shutdown” or “partial shutdown,” that did not prevent the U.S. Treasury from being open for business on Thursday–the third day of the “shutdown” and issuing $106.291 billion in new debt, according to the Daily Treasury Statement released at 4:00 p.m. on Friday.

Despite selling that $106.291 in new Treasury securities, the net value of extant U.S. Treasury securities did not increase because on the Treasury also redeemed $111.330 billion in maturing Treasury securities. That means the net value of U.S. Treasury securities held by the public actually decreased by $5.039 billion.

However, the cash in the Treasury’s Federal Reserve account declined. At the start of Thursday, the Treasury had $57.533 cash on hand in that account. By the close of business on Thursday, the Treasury had only $24.453 billion cash on hand–a drop of $33.080 in cash.

Even though the net debt held by the public declined by $5.039 billion in Thursday, and the cash reserved declined by $33.080 billion, according to the Daily Treasury Statement, the same statement said the public debt subject to the legal limit set by Congress remained exactly $16,699,396,000,000. The Treasury has said the debt subject to the limit has closed the day at precisely that amount on every day since May 17.

Full article here

This article was posted: Monday, October 7, 2013 at 5:07 am





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