Washington Times: The Treasury Department has been rapidly spending its large cash reserves ever since President Trump took office, a move that complies with federal law, but could also make it harder for the government to stay under the debt ceiling once the limit kicks in again later this month.
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.
The prior regime delayed due interest until the next regime takes over. Hence, all parties plan to spend the do-re-me right at that moment. We done this openly, tough the bankruptcy was a hidden but priced risk. Now, we are short of cash, short of a budget and ripple this down through the government layers.
We are short, we didn't plan the big eight year regime switch. Gonna fly copter soon. From the same article:
But in the 2015 law, Congress expressly prohibited the government from building up a huge arsenal of cash in order to survive when the debt ceiling was reached.
Translation: Congress will go likely go broke.
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