Proverbs 22:1 – “A good name is rather to be chosen than great riches”

 

Treasury To Run Out Of Cash By June 1

As a result of the recent slowdown in tax receipts, the treasury could run out of cash by June 1.

In other words, Congress has exactly one month to get a deal to raise the debt limit.

Banks were warned that a debt ceiling crunch could come far sooner than the expected date.

 

 

 

To increase or suspend the debt limit in a way that provides longer-term certainty that the government will continue to make its payments is concerning.

There is a plead with Congress to get a debt ceiling deal done as soon as possible.

We have learned from past debt limit impasses that waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence.

 

 

 

The Treasury estimated borrowing of $932 billion and assumed an end-of-March cash balance of $500 billion.

If Congress fails to get a deal done, the US is forced to compartmentalize spending.

 

 

Conclusion

They spend money they do not have. Now taxpayers will fork the bill again!

The longer new debt issuance is delayed, the bigger the eventual burst in new debt to hit the market.

They cannot run out of cash under a FIAT monetary system.

 

 

The Feds delayed response is certainly part of this problem.

Looks like the country is going to get serious about living within its means.

As always, keep Yahweh first, stay free, pay down your debt and prepare.

 

 

DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.

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