tag:blogger.com,1999:blog-5588605169381835789.post6661097993726785227..comments2023-05-15T04:06:02.670-04:00Comments on JD's Thoughts: Gov't Credit Card Maxed Out?JD Mackiewiczhttp://www.blogger.com/profile/02939145866375518900noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5588605169381835789.post-72005716182178668142007-08-15T13:12:00.000-04:002007-08-15T13:12:00.000-04:00As it turns out there is Debt that is subject to t...As it turns out there is Debt that is subject to the limit and debt that is not subject to the limit. <BR/><BR/><BR/>What's the difference between the Public Debt Outstanding and the Public Debt Subject to Limit? As of Aug 13 the debt subject to the limit is 8,882,050,228,491.18 so we still have some time before the government shutsdown or at least congress votes to increase it. <BR/><BR/>Here is an explanation on what the difference is. I'm not really sure what it means either. <BR/><BR/>The Public Debt Outstanding represents the face amount or principal amount of marketable and non-marketable securities currently outstanding. The Public Debt Subject to Limit is the maximum amount of money the Government is allowed to borrow without receiving additional authority from Congress. Furthermore, the Public Debt Subject to Limit is the Public Debt Outstanding adjusted for Unamortized Discount on Treasury Bills and Zero Coupon Treasury Bonds, Miscellaneous debt (very old debt), Debt held by the Federal Financing Bank and Guaranteed Debt.JD Mackiewiczhttps://www.blogger.com/profile/02939145866375518900noreply@blogger.com