US Treas Sec Mnuchin warns that debt ceiling could be hit in September
The debt ceiling drums are being beat again, US Treasury Secretary Mnuchin warned that it'd be hit in September.
- "We model various scenarios for cash projections. Based on updated projections, there is a scenario in which we run out of cash in early September, before Congress reconvenes," "it is impossible to identify precisely how long extraordinary measures [to avoid default] will last."
The administration wants to borrow more, increase debt in the US. The usual.
House Speaker Pelosi and Senate Majority Leader McConnell want to rasiet eh ceiling as per Mnuchin's request, but want it as part of a broader, two-year budget agreement.
Discussions on the timetable will continue this week.