US Treasury Department’s Higher Cash Balance Provides a Buffer

The amount of money available to pay bills in the US has increased, providing a respite for the government as it struggles to maintain spending until it finds a solution to the debt ceiling. The U.S. Treasury's cash balance rose to $68.3 billion as of May 22, according to data released Tuesday. That was up from $60.7 billion the day before, but still well below the $140 billion recorded on May 12.

The Treasury Department's bank account has been under downward pressure recently as it moves to avoid breaching the $31.4 trillion debt ceiling.

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