This is simply not believable.
According to the Daily Treasury Statement for July 12,
which the U.S. Treasury released this afternoon, the federal debt that
is currently subject to a legal limit of $16,699,421,095,673.60 has
stood at exactly $16,699,396,000,000.00 for 56 straight days.
That means that for 56 straight days the federal debt has remained approximately $25 million below the legal limit.
If you believe that, you also believe in pink unicorns and fairy dust.
Come to think of it, you'll also believe that Obozo is a "uniter."
It's actually entirely believable. The Treasury is juggling things since, really, mid-December 2012 by burning its meager cash reserve, "jiggering" the unamortized discount on some of its securities, and spending the excess of the employees' retirement fund rather than "investing" it in Treasury securities, just as it has the last few times it bumped up against the debt ceiling.
ReplyDeleteThe only reason the streak isn't longer (and frankly, broken by a default) is, between 2/4 and 5/19, there was no debt ceiling.