Government cash balance drops below $50 billion

As of the close on Wednesday, the government’s cash on hand had dropped to just $49.473 billion, the lowest value since the current debt ceiling brinkmanship by the Republican congress began.

That should give some urgency to the process of increasing the debt ceiling but there are mixed signals coming from the on again-off again talks between the speaker of the House of Representatives and the White House, with some suggesting progress and others suggesting major obstacles, though the two position are not mutually exclusive.

As details leak about an emerging bipartisan debt deal just days before a possible default, House conservatives are growing increasingly unhappy.

One of the concerned lawmakers was Rep. Ralph Norman (R-S.C.), a member of the conservative Freedom Caucus who has repeatedly stated he didn’t want anything less than what the House GOP passed as their debt plan last month.

McCarthy “doesn’t have the 218 on that unless he gets Democrats,” Norman said of the emerging proposal, noting he saw the list from Burchett. “If he gets Democrats, that’s a telltale sign.”

Rep. Bob Good (R-Va.) echoed Norman, citing concerns about “rumors” of a potential deal that would raise the debt ceiling for more money and more time than Republicans wanted — and “for a whole lot less in return that we need.”

“If that were true, that would absolutely collapse the Republican majority for this debt-ceiling increase,” he said.

These signals should not be taken too seriously since such leaks may be part of the negotiating process, as each side seeks to ramp up the pressure.

One thing I have noticed is that although McCarthy and his allies regularly keep issuing statements thus keeping their point of view in the news cycle, Joe Biden has not been doing the same. This seems like a mistake.


  1. John Morales says

    $50 billion here, $50 billion there, before long one is talking real money.

  2. Silentbob says

    That’s like $150 bucks per head of population Morales, you fucking spanner.

  3. John Morales says

    Silentbob, you do amuse.

    (Not only did I make the jocular reference, I got this beauty of a retort!)

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