US Cash Pile Edged Up From Low Before Biden Signed Debt-Cap Law
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The amount of money the US government had to pay its bills edged up marginally from a half-decade low just before President Joe Biden signed legislation that suspended the statutory borrowing limit until 2025.
The Treasury’s cash balance rose to $23.4 billion on Friday, according to data published Monday. That was up from $22.9 billion on June 1, which was on a par with a level last reached in October 2015. The Treasury’s bank account had been under downward pressure recently because of measures being taken to avoid breaching the $31.4 trillion debt cap.