Too Much Cash, Too Little Time: The Latest U.S. Debt Cap Dilemma
- Treasury cash balance needs to fall to around $199b this week
- Tax refunds running 39% slower than last year as of Feb. 15
The U.S. Department of the Treasury building in Washington.
Photographer: Andrew Harrer/Bloomberg
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Uncle Sam has to find a way to shovel more than $100 billion in cash out the door by the end of this week.
That’s when the U.S. Treasury has to reduce its cash balance to about $199 billion in order to comply with rules surrounding the reinstatement of the debt ceiling. The cap is set to go back into effect at the end of this Friday and at that point the cash balance should be at or below the level it was at when the current suspension went into effect in February 2018.