US government will run out of money by October 18, Treasury secretary says
Treasury Secretary Janet Yellen warned lawmakers that the federal government will likely run out of cash and extraordinary measures by October 18 unless Congress raises the debt ceiling.
edition.cnn.com
Secretary Janet Yellen warned lawmakers that the federal government will likely run out of cash and extraordinary measures by October 18 unless Congress raises the debt ceiling.
The new estimate from Yellen raises the risk that the United States could default on its debt in a matter of weeks if Washington fails to act. A default would likely be catastrophic, tanking markets and the economy, and delaying payments to millions of Americans.
"It is uncertain whether we could continue to meet all the nation's commitments after that date," Yellen wrote in a letter, adding the projection is based on estimated tax payments.
Previously, the Treasury Department estimated it would run out of cash and accounting maneuvers at some point in October.
As alarming as this sounds this isn't the first time we have seen this happen.
Though you have to wonder if Republicans might decide to be pieces of shit and vote in such a way that might cause shutdown government.
Lock if old.