President Barack Obama signs legislation increasing the federal government's debt limit on Tuesday, Aug. 2, 2011. (White House photo/Pete Souza)
(CNSNews.com) - The debt of the federal government—as reported by the U.S. Treasury Department in the official Daily Treasury Statement—jumped by $400 billion on Tuesday afternoon within hours of when President Barack Obama signed the legislation that lifted the debt limit by as much as $2.4 trillion.
Every business day at 4:00 p.m., the Treasury publishes the Daily Treasury Statement, summarizing the U.S. government financial accounts as they stood as of the close of business on the previous day.
At 4:00 p.m this afternoon, the Treasury published the statement summarizes the accounts of the U.S. government as they stood as of the close of business yesterday, Tuesday, Aug. 2, 2011.
Table III-C of the statement, which summaries the national debt, indicated that at the beginning of Tuesday, the U.S. debt subject to the limit was $14.294000 trillion. At the close of business Tuesday, the statement said, the debt subject to the limit was $14.694,000 trillion—an increase of $400 billion.
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