US National Debt Surpasses $32 Trillion Mark.

The US national debt has surpassed $32 trillion, increasing by $572 billion since the debt ceiling was suspended two weeks ago. The Treasury Department is now selling a flood of Treasury securities to replenish its checking account that had been drawn down to near-nothing during the debt-ceiling standoff. The Treasury General Account at the New York Fed had fallen to a closing balance of $23 billion just before the debt ceiling was suspended. The TGA has jumped by $227 billion since the debt ceiling was suspended, including the June 15 tax receipts, to a balance of $250 billion. The Fed's QT is running for the first time simultaneously with the TGA being refilled, and both are draining liquidity from the markets simultaneously.