Hmmm. Good question. I suppose it will go on whichever tab makes the Dems, and the President, look better.
Originally Posted by jmotivator
Seriously, the Treasury had been showing for a number of months the same debt number -
Treasury: Debt Up $0 in August; CBO: But Deficit Was $146B | CNS News
Despite this deficit spending, the Treasury reported that at the close of every single business day in August, the federal debt subject to a legal limit by Congress remained exactly $16,699,396,000,000.
That is approximately just $25 million below the legal limit on the debt that is $16,699,421,095,673.60
If the federal debt had climbed by the same $146 billion that the deficit climbed in August, it would have exceeded the legal limit by almost $146 billion.
In fact, according to the Daily Treasury Statements that the Treasury publishes at 4:00 p.m. on each business day, the debt subject to the legal limit has remained at exactly $16,699,396,000,000--or about $25 million below the legal limit--every day since May 17.With the release of the Daily Treasury Statement for Sept. 6 (which occurred at 4:00 p.m on Sept. 9), that makes 112 days that, according to the U.S. Treasury, the debt has been stuck at $16,699,396,000,000
So, as we can see, the Obama Administration has spent far beyond the authorized limit using the Treasury Departments ability to locate money via "extraordinary measures" to do so. This means they actually hit the debt limit months ago, but the recent "crisis" was just part of the smoke and mirrors of Washington.
It's rather interesting to watch the uninformed minions on the left hurl accusations they are too brain dead to know have been fed to them via the Southern Orifice that runs through the White House and the DNC.