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U.S. Treasury has just $88 billion of measures left to avoid debt cap
By Benjamin Purvis and Michael Mackenzie
Bloomberg News
Friday, May 12, 2023
The U.S. Treasury Department said in a statement today that it had just $88 billion of extraordinary measures to help keep the government's bills paid as of May 10.
That's down from around $110 billion a week earlier and means that just over a quarter of the $333 billion of authorized measures are still available to keep the U.S. government from running out of borrowing room under the statutory debt limit.
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The measures are a collection of various accounting gimmicks that enable the administration to keep selling debt even though it has run up against the $31.4 trillion borrowing ceiling imposed by Congress. ...
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