Look at that Charlie Sheen! – Federal Debt Jumps $63.7 Billion as Treasury Drained $158.5 Billion in February

The net national debt increased by $63.7 billion in February—hitting $14.195 trillion ($14,194,764,339,462.64) at the end of the month–even as the Obama administration began draining the Treasury’s cash reserves in order to keep federal borrowing down and push back the date when the government will hit the statutory debt limit.

At the close of business on Jan. 31, the total federal debt stood at $14.131 trillion ($14,131,051,056,010.84), according to the Treasury Department’s Bureau of the Public Debt. At the close of business on Feb. 28, it stood at $14.195 trillion ($14,194,764,339,462.64), an increase of $63.713  billion ($63,713,283,451.80) in new debt that was accumulated during the shortest month of the year.

To save the government from having to borrow even more money in February, the Treasury significantly diminished the balance in its cash accounts, according to the department’s Daily Treasury Report released today. At the beginning of the month, Treasury’s cash balances equaled $349.1 billion. At the end of the month, they were down to $190.6 billion—a drop of $158.5 billion.

via CNSnews.com.

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About Albert N. Milliron 6987 Articles
Albert Milliron is the founder of Politisite. Milliron has been credentialed by most major news networks for Presidential debates and major Political Parties for political event coverage. Albert maintains relationships with the White House and State Department to provide direct reporting from the Administration’s Press team. Albert is the former Public Relations Chairman of the Columbia County Republican Party in Georgia. He is a former Delegate. Milliron is a veteran of the US Army Medical Department and worked for Department of Veterans Affairs, Department of Psychiatry.

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