The US Treasury Department released data on the Treasury’s cash balance.
Accordingly, the cash level of the US Treasury decreased to $ 38.8 billion as of Thursday. This rate was at the level of 49.5 billion dollars the previous day.
Goldman Sachs also predicted on May 19 that the US Treasury Department’s cash level would fall below $30 billion by June 8-9. It was stated that this situation could adversely affect the capacity of the federal government to fulfill its obligations.
Treasury may face cash shortage as of June 5 if debt limit is not increased
The US reached the debt limit of 31.4 trillion dollars on January 19, and the US Treasury began to take extraordinary measures to avoid exceeding the limit.
The Treasury Department had warned that these extraordinary measures could be exhausted by the beginning of June.
In a letter to US House of Representatives Speaker Kevin McCarthy regarding the debt limit, Secretary of the Treasury Janet Yellen today predicts that the Treasury will run out of resources to meet its obligations if Congress does not raise or suspend the debt limit by June 5, based on available data. reported.
Despite the approaching date, negotiations between the White House and the Republicans on increasing the budget limit have progressed, but no agreement has yet been reached.