(Bloomberg) -- The amount of funds the US government has to pay its bills rebounded after falling to the lowest level in more than a month, though there’s still a risk it will run out of money by early next month if the debt limit isn’t raised or suspended before then.
The Treasury’s cash balance rose to $94.6 billion as of May 16, according to data published Wednesday. That’s up from from $87 billion a day earlier and compares with $140 billion at the end of last week. The Treasury’s bank account has been under downward pressure recently because of measures being taken to avoid breaching the $31.4 trillion debt cap.
Treasury Secretary Janet Yellen reiterated to lawmakers this week that her department’s ability to avoid breaching the statutory debt ceiling via special accounting maneuvers could be exhausted around early June. The window for a resolution of the standoff is clearly narrowing, with the Treasury saying last week that it had run through all but about $88 billion of its authorized extraordinary measures as of last Wednesday.
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