Treasury Says Debt Limit at $16.699 Trillion After SuspensionIan Katz and Kasia Klimasinska
The U.S. debt ceiling as of yesterday was $16.699 trillion, the first number released by the Treasury Department since the limit was suspended in early February.
The U.S. Congress voted at the end of January to suspend the limit, which was then $16.394 trillion, through May 18 before President Barack Obama signed it into law in early February. The Treasury can continue borrowing for several months by shifting money among government accounts.
Treasury Secretary Jacob J. Lew said last week that those so-called extraordinary measures and a one-time payment from Fannie Mae will allow the U.S. to stay under the debt limit at least until September.
As of yesterday, the total amount of debt subject to the limit was $25 million under the ceiling, according to the Treasury’s figures.
The cap increased to account for deficits that accrued during the suspension period.