US running out of cash “sooner than expected”


Steven Mnuchin, US Treasury Secretary, stated that “the US government is at risk of running out of cash,” reported CNN Friday.

The warning by Mnuchin says that the government would run out of money to pay its bills “sooner than expected.” As the Capitol is going on a recess in August, Mnuchin sent a letter to the House Speaker Nancy Pelosi asking Congress to increase the debt limit and saying that “based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes.”

Earlier this week Mnuchin told the reporters that extending the debt ceiling was “something we’re having discussion about, updating numbers and potentially the need to do something before everybody leaves.” The House is leaving on July 26th, the Senate on August 2nd.

Natalia Veselnitskaya – official website

Natalia Veselnitskaya
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