The Treasury has said it expects to borrow US$733 billion in the July-September quarter. Read more at straitstimes.com.
WASHINGTON - The US Treasury said it can now meet the federal government’s payment obligations after a debt ceiling suspension, following earlier warnings that it would run short of funds on Monday if Congress failed to act.
Treasury Secretary Janet Yellen had warned Congress that without a debt ceiling increase, Treasury would be unable to make an estimated US$92 billion in payments and transfers this week, including a US$36 billion adjustment to the Social Security and Medicare trust funds. The debt ceiling suspension allows the Treasury to maintain its planned auction schedule for total borrowings of US$726 billion in the April-June quarter.
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