Tags: federal | debt | frozen | suspension | period

National Debt Stays Steady at $18.1 Trillion

By    |   Tuesday, 30 Jun 2015 10:34 PM

The federal debt has been frozen for 15 weeks at $18,112,975,000,000 after the Treasury Department issued what it calls a "debt issuance suspension period" in March.

Treasury Secretary Jack Lew revealed the department's plans in a March letter to House Speaker John Boehner.

"As you know, in February 2014, Congress passed the Temporary Debt Limit Extension Act, suspending the statutory debt limit through March 15, 2015," Lew wrote. "Beginning on Monday, March 16, the outstanding debt of the United States will be at the statutory limit. In anticipation of reaching that date, Treasury has suspended until further notice the issuance of State and Local Government Series securities, which count against the debt limit."

The statutory debt limit is $18,113,000,080,959.35, roughly $25 million more than the current federal debt that is subject to that limit.

The Treasury Department released its Daily Treasury Statement last Friday, which revealed the national debt is still frozen at $18,112,975,000,000.

A CNS News story two years ago discussed the national debt at the time, which was frozen at $16,699,396,000,000 for 150 days after Lew issued another "debt issuance suspension period."

Despite the high debt carried by the government, the statement does show that the Federal Reserve's operating cash balance — which is broken up into an account at the Federal Reserve Bank of New York and in short-term cash investments — has risen from $158,302,000,000 to $225,955,000,000 this year, a positive change of about $67.6 trillion.

On the subject of national debt, Greece became the first developed country to default on a loan with the International Monetary Fund Tuesday. The nation failed to make a 1.6 billion euro loan repayment to the fund.

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The federal debt has been frozen for 15 weeks at $18,112,975,000,000 after the Treasury Department issued what it calls a "debt issuance suspension period" in March.
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2015-34-30
Tuesday, 30 Jun 2015 10:34 PM
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