August 14, 201313 yr Treasury Ran $98 Billion Deficit in July--But Debt Stayed Exactly $16,699,396,000,000 Treasury Ran $98 Billion Deficit in July--But Debt Stayed Exactly $16,699,396,000,000 | CNS News (CNSNews.com) - The Treasury Department's Financial Management Service (FMS), which publishes both the federal government's official Daily Treasury Statement and its official Monthly Treasury Statement, is reporting that in July the federal government ran a deficit of $98 billion but that the federal government's debt remained exactly $16,699,396,000,000 for the entire month. The FMS said that the deficit went up $98 billion ($97,594,000,000) in the Monthly Treasury Statment for July, which it released on Monday. At the same time, the FMS said the debt stayed at exactly $16,699,396,000,000 in its Daily Treasury Statements, which are published every business day. The Daily Treasury Statements show the daily value of the federal government debt that is subject to a legal limit set by Congress. At the static $16,699,396,000,000 level that the Treasury reported for every day of July, the debt was just $25 million below the legal limit of $16,699,421,000,000 that was set in a law passed by Congress and signed by President Barack Obama. If Treasury's daily statements were to declare that the government had borrowed an additional net $98 billion to cover the $98 billion deficit the Treasury declared in its monthly statement for July, the Treasury would be conceding that the government had already surpassed the legal limit on the debt--and has been violating the law by continuing to borrowing additional money.
August 14, 201313 yr I'm going to do some research on this before I react. But on the surface this doesn't look good.
August 14, 201313 yr How come this doesn't surprise me? I think the entire political system inside the beltway is so corrupt that this smells like it was a directive from within the whitehouse to fudge the numbers.
August 14, 201313 yr treasury-debt-has-been-exactly-1669939600000000-56-days This might explain it. Seems to have a bit more info than the original link.
August 15, 201313 yr Link isn't working for me. Try this. Treasury: Debt Has Been Exactly $16,699,396,000,000.00 for 56 Days | CNS News
August 15, 201313 yr Try this. Treasury: Debt Has Been Exactly $16,699,396,000,000.00 for 56 Days | CNS News So basically we are using "extraordinary measures " or accounting trick to not show the true debt ? Also I love how the treasure says they will not negotiate with congress over spending. You know the branch that legally controls spending .
August 15, 201313 yr Author I'm so glad this administration is so tranparent. Call it whatever you want, this is flat out lying and cheating. And if it's not criminal, it's awful close.
August 15, 201313 yr Seriously though, how is this anything but cooking the books? Cooking? They are just plain lying at this point.
August 15, 201313 yr To anyone that pays attention to the news, this is old news. The same thing was done the last time we approached the debt ceiling. They announce it when they do it. Does having such a constant negative attitude toward everything ever make you want to jump off a building? If I really felt that everything and everybody was always out to lie, cheat and steal, I don't think I could continue.
August 15, 201313 yr To anyone that pays attention to the news, this is old news. The same thing was done the last time we approached the debt ceiling. They announce it when they do it. Does having such a constant negative attitude toward everything ever make you want to jump off a building? If I really felt that everything and everybody was always out to lie, cheat and steal, I don't think I could continue. It's not everything and everybody. It's just liberals and Democrats, dontcha know.
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