US Treasury Has Insufficient Resources To Fund Government Beyond December 15 - Yellen

WASHINGTON (Pakistan Point News / Sputnik - 17th November, 2021) Treasury Secretary Janet Yellen sent a letter to US House Speaker Nancy Pelosi in which it pointed out that there is chance the Treasury Department will not possess sufficient funds to finance the work of the government beyond December 15.

"While I have a high degree of confidence that Treasury securities will be able to finance the US government through December 15 and complete the Highway Trust Fund investment, there are scenarios in which Treasury would be left with insufficient remaining resources to continue to finance the operations of the US government beyond this date," Yellen wrote in the letter on Tuesday.

The Highway Trust Fund investment is a part of so-called Infrastructure Bill that President Joe Biden signed on Monday and appropriates $118 billion for its needs within one month after the enactment of the legislation, Yellen said.