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

Posted By admin On October 7, 2013 @ 5:07 am In U.S. News | Comments Disabled

Terence P. Jeffrey
CNS News [1]
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 [2] 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 [1]

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URLs in this post:

[1] CNS News: http://www.cnsnews.com/news/article/terence-p-jeffrey/treasury-was-open-business-3rd-day-shutdown-issued-106b-new-debt

[2] the Daily Treasury Statement: https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=13100300.pdf

[3] Fed Has Bought More U.S. Gov’t Debt This Year Than Treasury Has Issued: http://www.prisonplanet.com/fed-has-bought-more-u-s-gov%e2%80%99t-debt-this-year-than-treasury-has-issued.html

[4] After Shutdown: Administration Gives $445,000,000 to Corporation for Public Broadcasting: http://www.prisonplanet.com/after-shutdown-administration-gives-445000000-to-corporation-for-public-broadcasting.html

[5] U.S. Treasury: China Has Decreased Its Holdings of U.S. Debt: http://www.prisonplanet.com/u-s-treasury-china-has-decreased-its-holdings-of-u-s-debt.html

[6] Total US Debt Hits $14.195 Trillion, $99 Billion Away From Debt Ceiling; Treasury Revises Breach Date To As Soon As April 15: http://www.prisonplanet.com/total-us-debt-hits-14-195-trillion-99-billion-away-from-debt-ceiling-treasury-revises-breach-date-to-as-soon-as-april-15.html

[7] Treasury: Debt Has Been Exactly $16,699,396,000,000.00 for 56 Days: http://www.prisonplanet.com/treasury-debt-has-been-exactly-16699396000000-00-for-56-days.html

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