The U.S. Could Run Out Of Money By June 1

... [+]

Hamilton stands in front of the U.S. Treasury September 19, 2008 in Washington, DC. Treasury Secretary Henry Paulson announced that the Treasury will insure money market mutual funds as one part of a massive government bailout that is attempting to stabilize the current financial crisis. suggests there is a “significantly greater risk that the Treasury will run out of funds in early June.” That’s at the early end of previous expectations and is due, in part, to lower tax receipts.

In the worst case, if politicians cannot come to an agreement on the debt ceiling this could cause the U.S. government to default. That risks havoc in financial markets. The U.S. came close to default in 2011 and U.S. government debt was downgraded as equity markets sold off.The government already hit the debt ceiling limit in January 2023, but the Treasury has been using extraordinary measures to pay the bills since then.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fed's Goolsbee: 'way too premature' to expect June rate hikeChicago Federal Reserve Bank President Austan Goolsbee on Friday said it is 'way too premature' to suggest that stronger-than-expected job gains in April mean the central bank will need to raise interest rates again when it meets again in June.
Source: Reuters - 🏆 2. / 97 Read more »