Via Instapundit: The Treasury is set to run out of cash in October, which may lead to a default on debt obligations or payment delays for government programs, according to a report from the Congressional Budget Office.
On March 15, 2017, the suspension of the debt limit expired and since then the Treasury has been able to borrow additional funds without violating the debt ceiling.
"The Congressional Budget Office projects that if the debt limit remains unchanged, those measures will be exhausted and the Treasury will most likely run out of cash in early to mid-October," the report states. "The government would then be unable to pay its obligations fully, so it would have to delay making payments for its programs and activities, default on its debt obligations, or both."
On March 15, 2017, the suspension of the debt limit expired and since then the Treasury has been able to borrow additional funds without violating the debt ceiling.
"The Congressional Budget Office projects that if the debt limit remains unchanged, those measures will be exhausted and the Treasury will most likely run out of cash in early to mid-October," the report states. "The government would then be unable to pay its obligations fully, so it would have to delay making payments for its programs and activities, default on its debt obligations, or both."
(Link to more)
4 comments:
Funny, we always seemed to be able to print money under Obama. If they mean that deficits are still going up, and thus so is the debt; yeah, we know: Repeal Obamacare, enact entitlement reforms, and start coming up with a solution for a viable social security system.
Fake news - we ran out of money trillions of dollars ago.
If they're taking on debt, they're not printing money.
Somebody needs to light a fire under Ryan.
That's the thing - he really has no guts. Press him hard enough and he'll fold.
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