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TRUMP emptied the entire US Treasury into billionaire's pockets. Mnuchin is back for MORE.
https://www.rollcall.com/news/congress/debt-limit-may-reached-end-august-recess-mnbuchin-saysDebt limit may be reached before end of August recess, Mnuchin says
Treasury Secretary Steven Mnuchin put his request on paper for Congress to act on the debt ceiling before the August recess, writing to congressional leaders Friday that there’s a chance Treasury could run out of cash in early September.
“Since there is a reasonable uncertainty in projecting government cash flows, it is impossible to identify precisely how long extraordinary measures will last,” Mnuchin wrote in his four-sentence letter, referencing accounting maneuvers Treasury can engage in to carve out room under the $22 trillion debt limit.
“We model various scenarios for our cash projections. Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes,” the letter continues. “As such, I request that Congress increase the debt ceiling before Congress leaves for summer recess.”
The House is scheduled to leave for recess on July 26; the Senate a week later. House Speaker Nancy Pelosi, D-Calif., said Friday she hadn’t seen Mnuchin’s letter yet, but she might have another call with him today.
Pelosi spoke with Mnuchin twice on Thursday, and she said she’s “personally convinced” that Congress should act on the debt limit before the recess — only if accompanied by a deal to raise the austere discretionary spending caps for next year’s appropriations bills and possibly the following year’s.
“Since there is a reasonable uncertainty in projecting government cash flows, it is impossible to identify precisely how long extraordinary measures will last,” Mnuchin wrote in his four-sentence letter, referencing accounting maneuvers Treasury can engage in to carve out room under the $22 trillion debt limit.
“We model various scenarios for our cash projections. Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes,” the letter continues. “As such, I request that Congress increase the debt ceiling before Congress leaves for summer recess.”
The House is scheduled to leave for recess on July 26; the Senate a week later. House Speaker Nancy Pelosi, D-Calif., said Friday she hadn’t seen Mnuchin’s letter yet, but she might have another call with him today.
Pelosi spoke with Mnuchin twice on Thursday, and she said she’s “personally convinced” that Congress should act on the debt limit before the recess — only if accompanied by a deal to raise the austere discretionary spending caps for next year’s appropriations bills and possibly the following year’s.
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