Why Does TreasuryDirect.gov Show That Our Total Public Debt is Higher Than the Debt Ceiling?
Treasurydirect.gov has a feature called, “The Debt to the Penny and Who Holds It”. It is a government website, typically dealing with items such as savings bonds, and is separate from Treasury.gov. It shows some interesting data regarding the current debt: Current Debt 10/15/2013 Held by the Public 11,926,495,975,191.95 Intragovernmental Holdings 4,820,874,558,898.67 Total Public Debt Outstanding 16,747,370,534,090.62 Here we see that this history feature shows | Read More »
Obama on the Debt Ceiling in 2006 vs 2013
CNS News reported an excerpt from President Obama’s speech given on September 18 at the Business Roundtable in D.C. Obama claimed that, “Now, this debt ceiling — I just want to remind people in case you haven’t been keeping up — raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All | Read More »
Obama: It’s Okay to Break the Law When It Comes to Submitting a Budget
Under law, the White House must submit a budget this year by February 4. According to the Hill, Late Friday evening, Deputy Director Zients confirmed that for the fourth time in five years, the president’s budget will not be submitted in compliance with the law,” Only 1 budget out of 4 have been submitted on time — the budget in 2010. The rest of the | Read More »
Will Obama Wait?
There are two important fiscal dates coming up in February: February 12 and February 15. February 12 is the scheduled date of Obama’s State of the Union speech, which is also Lincoln’s birthday. It also happens to be three days before the “X Date”, February 15, the estimated date that the Treasury may not be able to pay its bills. The debt ceiling deadline. Does | Read More »