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Thursday, March 03, 2011

Treasury Drains $158.5 Billion From Its Cash Reserves

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.

In October, at the beginning of fiscal year 2011, according to the Daily Treasury Report, the government's cash balance was $309.8 billion.

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