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Updated 19:56 08/05/21

A week left until the U.S. runs out of money

By Duncan Richardson, News Editor

08 Mar 2017

On March 15th U.S. federal debt is expected to reach $20 trillion. By law the Trump administration will not be able to borrow a further dollar unless the debt ceiling is raised. If not raised the U.S government will soon run out of cash and run the real risk of defaulting on its debt and federal liabilities.

The U.S Treasury has $200 bn in cash and a monthly deficit of $75 bn, so by the summer the government will officially run out of money. There are many Democrats and Republicans in Washington who would love to see Trump Fall. If the political elite vote against raising the debt ceiling the country would grind to a halt within months. There would be no infrastructure stimulus and Trump would find himself powerless.

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