Instead, even as the Treasury was running up the $98-billion deficit it reported in the July Monthly Treasury Statement, every one of the 22 Daily Treasury Statements published for July said the Treasury had closed out the previous business day with exactly $16,699,396,000,000 in debt.
The Daily Treasury Statement for Aug. 12, released Tuesday afternoon, says the debt remained stuck at exactly $16,699,396,000,000 during the first 12 days of this month, too.
On May 17, the first day the Treasury reported that the debt had hit exactly $16,699,396,000,000–and was thus just $25 million below the legal limit–Treasury Secretary Lew sent a letter to House Speaker John Boehner saying he was beginning to implement what he called “the standard set of extraordinary measures” to prevent the Treasury from exceeding the legal limit on the federal debt.
Since Lew sent that letter–announcing that he would use “extraordinary measures”–the debt has remained stuck at exactly $16,699,396,000,000 for 87 straight days.
That includes all 31 days in July when Lew’s Treasury says it was running a $98 billion deficit.
When Lew stops using “extraordinary measures” to keep the debt at exactly $16,699,396,000,000, the government will have another debt-limit crisis.
It’s a characteristic of the Obama administration: If you don’t like something – like the debt ceiling – simply refuse to acknowledge its existence. And then lie about it.