U.S. Treasury: No Room To Move Under Debt Cap

@AFP
U.S. Treasury: No Room To Move Under Debt Cap

Washington (AFP) – The Treasury Secretary Jacob Lew warned Wednesday that the government will have no more flexibility after October 17 to operate under the U.S. debt cap.

Lew told Congress that after months of juggling spending to meet government commitments without added borrowing, those “extraordinary measures” will be exhausted by that date, leaving the Treasury with only $30 billion in cash to meet ever-mounting demands.

Photo Credit: AFP/Saul Loeb

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Joe Biden

President Joe Biden

You may have noticed in recent weeks that alarming headlines about inflation – specifically, those ubiquitous stories about the cost of gasoline, or eggs, or other household goods – have vanished. Media outlets no longer feature those fearsome charts with arrows zooming skyward, or video loops displaying the latest eye-popping gas station signage.

Keep reading...Show less
DeSantis vs. Newsom

DeSantis vs. Newsom debate

DeSantis and Newsom

Florida Gov. Ron DeSantis’ ill-fated candidacy received a series of body shots Thursday night as California Gov. Gavin Newsom took the Republican to the mat repeatedly during a Fox News’ moderated debate.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}