'Based on updated projections, there is a scenario in which we run of out cash in early September, before Congress reconvenes,' Mnuchin wrote
Treasury Secretary Steven Mnuchin on Friday issued a warning Friday that the US government is at risk of running out of cash sooner than expected.
In a letter to Democratic House Speaker Nancy Pelosi, Mnuchin wrote that the US might default on its obligations as soon as early September, before Congress returns from its summer recess."Based on updated projections, there is a scenario in which we run of out cash in early September, before Congress reconvenes," Mnuchin wrote in a letter.The federal government has not been able to borrow money since March, when congressionally-mandated borrowing limits went back into force.
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