National Debt Clock Frozen at $18,112,975,000,000 for 21 Days and Counting

21 Days: Treasury Says Debt Has Been Frozen at $18,112,975,000,000

Excerpt:

According to the Daily Treasury Statement for Friday, April 3, which was published by the U.S. Treasury on Monday, April 6, that portion of the federal debt that is subject to a legal limit set by Congress closed the day at $18,112,975,000,000—for the 21st day in a row. $18,112,975,000,000 is about $25 million below the current legal debt limit of $18,113,000,080,959.35. .... “Because Congress has not yet acted to raise the debt limit,” Lew said in his March 13 letter, “the Treasury Department will have to employ further extraordinary measures to continue to finance the government on a temporary basis. Therefore, beginning on March 16, I plan to declare a ‘debt issuance suspension period’ with respect to investment of the Civil Service Retirement and Disability Fund and also suspend the daily reinvestment of Treasury securities held by the Government Securities Investment Fund and the Federal Employees’ Retirement System Thrift Savings Plan.”

Comment: Middle image is the debt clock in New York City. Bottom is screen shot of www.usdebtclock.org. Observation:  The debt clock being frozen is a lot like 1984's Newspeak

Debt Clock hits Inauspicious Milestone

Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

Excerpt:

Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day. .... And now we wait for the US to become Spain

Comment: Why infants and toddlers cry!

Have you watched the debt clock?

Comment: It was about 7 Trillion when I added the debt clock to my blog.

U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit

Excerpt:

he U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.

The unprecedented pledge of funds includes $3.18 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program. Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis.

More information here.