Photo: People walk past the U.S. Treasury Department in Washington, D.C., on January 18. (Photo by Anna Moneymaker/Getty Images) People walk past the U.S. Treasury Department in Washington, D.C., on January 18. (Photo by Anna Moneymaker/Getty Images)

The amount of money the U.S. government has to pay its bills plunged to the lowest it’s been since 2017, posing a risk that the administration will run out of funds in early June if the statutory debt limit isn’t raised or suspended before then.

The Treasury’s cash balance fell to just $37.4 billion on Tuesday, according to data published Wednesday. That more than reverses the previous day’s bounceback, which saw it jump to $54.5 billion, and takes the Treasury coffers below the half-decade low of $38.8 billion reached on Friday. The Treasury’s bank account has been under downward pressure recently because of measures being taken to avoid breaching the $31.4 trillion debt cap.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.