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IPFS News Link • Government Debt & Financing

Treasury Department burning through cash as debt ceiling approaches

• washingtonexaminer.com By Pete Kasperowicz

On Jan. 20, the day Trump took office, the federal government had $382 billion in cash on hand. As of Thursday, that was down to about $109 billion.

Spending all that cash has helped keep the total national debt under $20 trillion. The total debt has hovered around $19.9 trillion since Trump took office, and would easily exceed $20 trillion by now if the government borrowed money to fund government spending instead of using available cash.

But staying under the dubious milestone is probably not why all that cash is going out the door. Tyler Evilsizer of the Committee for a Responsible Federal Budget told the Washington Examiner there's another reason: keeping a low cash balance is required under a law that was passed in 2015.


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