To Increase the Public Debt Limit : Before the Committee On Ways And Means, July 28, 1987 Jcx-9-87

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Since the temporary limit expired on July 17, 1987, the Treasury Department discontinued sales of savings bonds.
Payroll and contractual obligations are being paid from the operating cash balance. In addition, the Treasury Department had to redeem maturing bills on July 23 from its operating cash balance, which presently is about $20 billion.
Additional weekly bills of $13.7 billion mature on Thursday, July 30, and $10.2 billion in notes mature on Friday, July 31, 1987. The cash balance today i
...s not sufficient to redeem the maturing debt later this week.

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