Via CNS News:
According to the Daily Treasury Statement for July 26, which the Treasury released this afternoon, the federal debt has been stuck at exactly $16,699,396,000,000.00 for 70 straight days.Mark Twain should have said there are "Lies, damn lies and anything that comes from the Obama administration."
That is approximately $25 million below the legal limit of $16,699,421,095,673.60 that Congress has imposed on the debt.
The portion of the federal debt subject to the legal limit set by Congress first hit $16,699,396,000,000.00 at the close of business on May 17. At the close of every business day since then, it has also been $16,699,396,000,000.00, according to the official accounting published by the Treasury Department.
If the debt had increased by even $30 million at any time during those 70 days, it would have exceeded the statutory limit. But, according to the Treasury, the debt did not do that. Instead, it remained precisely $16,699,396,000,000.00.
Even though the government’s official accounting of the debt has not budged for 70 days, the Treasury has continued to sell bills, notes and bonds at a value that exceeds the value of the bills, notes and bonds it was redeeming.
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