There is a reason the President has confidently declared that “raising the debt ceiling … Does not increase our debt.”  Because using Obama math, it’s true!

An update to this story…

Via CNS News:

At 4:00 p.m. on Wednesday, the U.S. Treasury released its daily statement revealing how the accounts of the federal government stood as of the close of business on Tuesday, Sept. 17.

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According to this official accounting,  the federal government’s debt that is subject to a legal limit set by Congress stood at exactly $16,699,396,000,000 at that hour yesterday.

That marked the fourth straight month that the U.S. government’s debt has ended up at exactly $16,699,396,000,000 at the close of each business day.

Coincidentally, $16,699,396,000,000 is about $25 million below the legal limit on the debt—which is currently set by law at $16,699,421,095,673.60.

In July alone, the federal government ran a deficit of $98 billion, yet the national debt calculation did not change.

If even the slightest fraction of the $98 billion deficit for July were taken into account, the government would have exceeded the current debt limit – a violation of the law passed by Congress and signed by President Obama.

The President has a history of signing laws and then almost immediately violating them.