US Debt “Frozen” From May 17 Through Labor Day

by Ryan on July 16, 2013

in Economy,Politics

When I want to look at the national debt, I just go here.  As of this writing, the national debt is about $16.87 trillion and rising.

However, if you ask the federal government, the number is $16,699,396,000,000.  What’s weird is that this number hasn’t changed since May 17 (or 56 days ago), even though by most calculations the government has accumulated at least an estimated $51.6 billion since then.

Huh?

The answer is quite simple.  Treasury Secretary Lew has simply announced that using budget gimmicks, he isn’t going to change that figure until after Labor Day or until Congress gives Obama’s Treasury Department permission to raise the legal debt limit — even as we zoom right past that legal limit.  Obamanomics needs its fix and can’t legally get it without Big Daddy Boehner giving them the stash, which he ultimately will under some  soon-to-be compromise debacle.

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