Treasury Cash Pile Hits Lowest Level Since 2017 as Debt Talks Drag On
- Amount in Treasury bank account dropped more than $10 billion
- Decline comes even amid signs of progress on negotiations
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The US Treasury’s cash and borrowing situation is getting very tight.
While negotiators in Washington struggle to try and hammer out a deal on the statutory debt limit that will be amenable to both sides of politics, the Treasury’s cash balance is dwindling rapidly and the amount of accounting gimmicks that it has up its sleeve to avoid breaching the debt cap is declining.