“That didn’t take long. The U.S. Treasury quickly surpassed the old debt ceiling as it unwound measures it had used to stay under the legal limit. The daily Treasury statement for Monday, released with the typical one-day lag, shows U.S. debt subject to the statutory limit at $16.435 trillion. That’s over the $16.394 trillion limit that was suspended when President Barack Obama signed new legislation Monday. Treasury had stayed just under that old cap since Dec. 31. A Treasury official Tuesday said the increase reflects the department unwinding measures it took to stay below the limit in the interim. That includes $31 billion getting repaid to federal retirement funds.”
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