'Almost zero cash going into September': Congress is running out of time to raise the debt ceiling and avoid default

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Treasury Secretary Steve Mnuchin has warned that the US government won't be able to pay its bills by September unless its able to borrow more.

Congress has only weeks to pass a bill to raise the US government's debt ceiling and avoid a technical default. The US Treasury will have"almost zero cash going into September" if Congress does not act, according to an analysis by Capital Economics, a research group. Currently, the Treasury is down to its last $215 billion.

Congress has only weeks to pass a bill to raise the US government's debt ceiling and avoid a technical default. The US Treasury will have"almost zero cash going into September" if Congress does not act, according to an analysis by Capital Economics, a research group. Currently, the Treasury is down to its last $215 billion.

 

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They elected a serial bankruptor and surprise, the government runs out of money

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