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July 25, 2011
The Ides of August: Obama Begins to Bounce Checks on August 15
assuming that there has been no increase in the debt ceiling. The projections assume that Treasury will be able to at least roll over maturing debt on August 4, 11 and 15. That's probably becoming a more questionable assumption given all of the statements coming from the rating agencies. As the table shows, we now show Treasury with a negative cash balance of $15.5 billion on August 15, which implies that Treasury wouldn't have the resources to pay $30.6 billion in interest on that day. -- Projected Treasury August Daily Cash Sweep Balance | ZeroHedge
Posted by Vanderleun at July 25, 2011 1:26 PM. This is an entry on the sideblog of American Digest: Check it out.