B-220873.2: Jul 22, 1986

THE RESTORATION SHOULD BE MADE AS OF THE FIRST DATE THE RESTORATION WOULD NOT HAVE THE EFFECT OF EXCEEDING THE PUBLIC DEBT LIMIT. 2.SECTION 272 OF THE BALANCED BUDGET AND EMERGENCY DEFICIT CONTROL ACT OF 1985. THE RESTORATION SHOULD BE MADE AS OF THE FIRST DATE ON WHICH IT WOULD NOT HAVE THE EFFECT OF EXCEEDING THE PUBLIC DEBT LIMIT. SINCE THE FFB SECURITIES WERE NOT SUBJECT TO THE STATUTORY LIMIT...

B-220873.2: Jul 22, 1986

The Department of the Treasury requested a decision on whether it was authorized to compensate the Civil Service Retirement and Disability Fund for certain losses arising out of the 1985 debt limit problem. GAO found that the Treasury was authorized to restore to the fund the higher interest securities redeemed on or before the date the statutory debt limit was temporarily increased...