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The U.S. Treasury Could Run Out of Cash in September

Posted by Metals Corporate on

By John McDonald The U.S. Treasury could run short on cash before Congress reconvenes in September if the legislature fails to raise the debt ceiling before Congress leaves for the end-of-summer recess.  Treasury Secretary Steven Mnuchin wrote a letter to House Speaker Nancy Pelosi mid-July, warning, “Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes.” Mnuchin is hoping his letter will spark a spirit of cooperation between the left and right sides of the aisle so that the White House does not have to offer a one-year continuing...

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