America’s mysteriously unchanging national debt: $16,699,396,000,000
posted at 11:09 am on August 15, 2013 by Guy Benson
Even as the Treasury was running up the $98-billion deficit it reported in the July Monthly Treasury Statement, every one of the 22 Daily Treasury Statements published for July said the Treasury had closed out the previous business day with exactly $16,699,396,000,000 in debt. The Daily Treasury Statement for Aug. 12, released Tuesday afternoon, says the debt remained stuck at exactly $16,699,396,000,000 during the first 12 days of this month, too. On May 17, the first day the Treasury reported that the debt had hit exactly $16,699,396,000,000–and was thus just $25 million below the legal limit — Treasury Secretary Lew sent a letter to House Speaker John Boehner saying he was beginning to implement what he called “the standard set of extraordinary measures” to prevent the Treasury from exceeding the legal limit on the federal debt. Since Lew sent that letter–announcing that he would use “extraordinary measures”– the debt has remained stuck at exactly $16,699,396,000,000 for 87 straight days.
“Extraordinary measures,” indeed. In a recent speech, President Obama touted the falling deficit, which is projected to drop to “only” $759 billion this year. President Bush’s average annual deficit was $250 billion. Obama blew past the six trillion dollar debt milepost months ago. Candidate Obama excoriated Bush for his “unpatriotic” additions to the national debt back in 2008; in less than five years, President Obama has matched Bush’s total over two full terms — and surpassed it by $2 trillion. As soon as Sec. Lew’s manipulation expires, we’ll hit the $17 trillion mark overall. Reminder: America’s true national debt is closer to $90 trillion than it is to the official number