The government’s cash balance drops further

The cash balance in the governments account dropped again on Thursday. It started the day with $68.332 billion, had revenues of $210.781 billion and expenditures of $221.773 billion, ending the day with $57.341 billion.

This number is becoming more significant as news emerges that talks on raising the debt ceiling have reached an impasse and discussions have been suspended. Sex offender Donald Trump is not helping.

Negotiations for a deal to raise the US debt ceiling and thereby avoid a default with potentially catastrophic consequences for the world economy reached a worrying impasse on Friday.

Republican leaders outside the talks sought to apply pressure. Not long before Graves spoke to reporters, Trump said his party should not give ground.

Republicans, the presidential frontrunner wrote on his Truth Social platform, “should not make a deal on the debt ceiling unless they get everything they want (including the ‘kitchen sink’). That’s the way the Democrats have always dealt with us. Do not fold!”

Mitch McConnell, the Republican leader in the Senate, aimed fire at Biden, accusing the president of “wait[ing] months before agreeing to negotiate with Speaker McCarthy on a spending deal.

“They are the only two who can reach an agreement,” McConnell said. “It is past time for the White House to get serious. Time is of the essence.”

Chris Murphy, a Democratic senator from Connecticut, countered: “We are in a crisis, for ONE REASON – House Republicans threat to burn down the entire economy if they don’t get their way.”

This is no way to run the world’s largest economy.


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