Related: Blame Harry Reid.
According to the US Debt Clock, we are $16,970,000,000 in debt. The US Debt Clock is an unofficial tally of our excessive spending.
The federal deficit increased by $146 billion in August, as reported by the CBO four days ago. Yet this conflicts with reports from the Treasury Department.
Yet as reported by CNSnews, “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.”
This makes 118 days, with the September 12 report being the most current, that the debt has stayed at $16,699,396,000,000.
Why is this important? The current debt ceiling limit is $16,699,421,095,673.60. According to the debt clock, however, and if CBO reports for June, July, and August were added to the Treasury statements amount since May 17th, we would be way past the debt ceiling limit. In fact, August alone would have crossed the threshold. So what is our current debt?
Incidentally, the reason why Congress even has to consider the question of funding the government or shutting it down past September 30 (the last day of the fiscal year) is that there is no operating budget. The last time the Senate passed a budget was April 29, 2009. Nearly the entirety of Obama’s time as President has been this way. For the Senate to abrogate its basic fiduciary responsibilities in such a major way is unconscionable.
February 25, 2015 08:30 AM by Michelle Malkin
Hillary Clinton enlists branding help of Coca-Cola exec to craft a campaign to appeal to people who think corporations control too much of America
February 22, 2015 07:33 PM by Doug Powers
February 20, 2015 02:29 PM by Michelle Malkin
February 17, 2015 05:58 PM by Michelle Malkin
Yes, President Obama, the rule of law still matters: Texas Gov. Abbott wins federal injunction against amnesty
February 16, 2015 10:28 PM by Michelle Malkin