{UAH} THE AMERICAN DEBT JUMPED BY $339 BILLION A SINGLE DAY

Debt Ceiling Raised, Instant Jump of $339 Billion, Gimmickry

Wednesday, November 4, 2015 15:03

Editor’s Note – An amazing phenomenon was tracked through the summer and into the fall regarding the portion of the federal debt that is subject to a legal limit set by Congress at $18,112,975,000,000. For at least 199 days, that number never fluctuated into late September, it was magically frozen.

Magically, “$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35”. Then comes another gimmick or two, or three…

John Boehner decides to retire because in our opinion he had enough of the right-wing of his caucus and he had no spine, nor a desire to deal with the looming budget crisis and debt ceiling fight brewing. Then Kevin McCarthy commits his major gaffe which required Paul Ryan to acquiesce and come in to rescue the Republican caucus in the House of Representatives as its new Speaker.

Okay, no gimmickry? Right, well it sure looks like it turned into one when Boehner decided to make a deal to ‘clean the barn‘ with his pal Senator Mitch McConnell to give Paul Ryan a fresh start as speaker, but then a strange thing happened. Once the deal went through on the debt ceiling, the debt quickly became unfrozen.

John Boehner‘s final act before he leaves Congress is to flip a middle finger at the renegade conservatives who have made his life miserable since he became Speaker of the House of Representatives. Saying he needs to “clean up the barn” before he turns the gavel over to Rep. Paul Ryan, a Wisconsin Republican, Mr. Boehner has made a budget deal with President Obama that will forestall any threat of a government shutdown or debt default until after a new president takes office in 2017.

Mr. Ryan has not sounded especially grateful for Mr. Boehner’s efforts. He is under pressure from the 40 radical conservative members of the so-called House Freedom Caucus to oppose Mr. Boehner’s deal with the devil in the White House. Mr. Ryan declared that the process by which the pact was reached “stinks.” (Read more at the Baltimore Sun)

Find out who voted which way, and at different times for this to fly by giving Obama a free hand and the pen to write checks. There is that pesky pen again, and the power of the purse just disappeared.

Debt ceiling lifted, and the same day, debt jumps $339B

By PETE KASPEROWICZ at the Washington Examiner

The U.S. national debt jumped $339 billion on Monday, the same day President Obama signed into law legislation suspending the debt ceiling. That legislation allowed the government to borrow as much as it wants above the $18.1 trillion debt ceiling that had been in place.

The website that reports the exact tally of the debt said the U.S. government owed $18.153 trillion last Friday, and said that number surged to $18.492 on Monday. The increase reflects an increasingly common pattern that can be seen in the total U.S. debt level when the debt ceiling is reached.

At the end of 2012, for example, the government hit the debt ceiling, and the Treasury Department was forced to use “extraordinary measures” to keep the government afloat until the ceiling could be increased again. Those measures included decisions to delay issuances of certain debt instruments.

When the ceiling was finally lifted a little more than a month later, the debt jumped $40 billion in a day as the pressure to stay under the ceiling eased, and after nine days, the U.S. was $100 billion deeper in debt.

In February 2013, the debt ceiling was suspended until mid-May. Extraordinary measures were again used through mid October, and the official debt burden hovered in place for more than six months. When the debt ceiling was suspended again in October, the debt exploded by $300 billion the next day.

This time around, the national debt has been frozen at its ceiling of about $18.1 trillion since late January, longer than nine months. The Bipartisan Policy Center estimated that the government had somewhere around $370 billion worth of extraordinary measures to use this time around.

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The website that reports the exact tally of the debt 

 

 

EM

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