The 28-year-old Lahiri, who finished tied sixth last week for his best finish in 2016, shot even par 72 with three birdies and three bogeys, including in last three holes, to be two-under 142 and right on the cut line here last night.
Brendan Steele, whose only PGA TOUR win was in his rookie season five years ago, shot a 5-under 67 yesterday and was tied for the lead with past Memorial champion Matt Kuchar (66).
The cut was at 2-under 142, the lowest since Jack Nicklaus started this tournament in 1976.
Jordan Spieth looked as though he might be on the wrong side of the cut line when he opened with two bogeys in four holes. He made six birdies over his last 12 holes for a 68 to at least stay in range.
"It was a very frustrating day. I hit it pretty good but got no results. I made two or three errors which were evidence of inexperience on this golf course and my putter remained unresponsive for the second consecutive day. But having survived the cut, I can hopefully get some momentum on the weekend," Lahiri, ranked 55th in the world, said.
Lahiri twice went into water and had to take penalty and did not take advantage of the par-fives.
Leader Steele took the last two weeks off to attend a wedding, go fishing with his father and venture over to San Diego to play a few games with Mickelson at The Bridges at Rancho Santa Fe.
Rory McIlroy was mildly disappointed with his 66, but only because he played the last seven holes in even par.
Jason Day was thrilled with a 71 because he lost his swing and figured it should have been something in the upper 70s.
Dustin Johnson, who opened with a 64, never caught the morning leaders. He had a pair of bogeys on the back nine that slowed him, and he took a double bogey on the par-4 sixth hole, which led to a 71, though he was only three shots behind.
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