#CBO Sees Greater #Risk That #Treasury Will Run Out of #Funds in Early June - Because tax receipts through April have been less than the #CongressionalBudgetOffice anticipated in February, we now estimate that there is a significantly greater risk that the Treasury will run out of funds in early June. We are providing this information in response to questions from lawmakers about our projections of revenues for the current year and the implications for the #debtceiling. https://www.cbo.gov/publication/59119?stream=top
That's not quite right.
The Treasury will not run out of funds since more money will come in throughout the year. The Treasury always collects money throughout the year, even if it will collect less than expected.
The issue is that the Treasury is spending faster than It should considering the lower income.
And that's really up to the president to fix. He really needs to rein in spending that is on course to outpace income to prevent this running out of money.
