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Is the us government broke and nobody is lending money to the US government?
175 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000
The portion of the federal debt that is subject to a legal limit set by Congress closed Friday, Sept. 4, at $18,112,975,000,000, according to the latest Daily Treasury Statement, which was published at 4:00 p.m. on Tuesday.
That, according to the Treasury’s statements, makes 175 straight days the debt subject to the limit has been frozen at $18,112,975,000,000.
$18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35.
On July 30, Treasury Secretary Jacob Lew sent a letter to the leaders of Congress saying he was extending a “debt issuance suspension period” through October 30.
originally posted by: xuenchen
But Congress must act in order to raise the debt ceiling.
What is going on here?