STEVE MNUCHIN/TREASURY/TRUMP PEOPLE: “Treasury Secretary Steven Mnuchin said Monday [6-12-17] that the U.S. government can be funded through ‘the beginning of September’ and urged lawmakers to raise the federal borrowing limit before they leave for their summer recess.
He reiterated remarks he made last week that if Congress doesn’t raise the federal borrowing limit before August, Treasury has ‘backup plans’ to fund the government but didn’t elaborate on what those plans entail.
‘I want to make it clear that this is not the time frame that would create a serious problem,’ he said, but added, ‘Markets don’t want us to wait. The sooner we do this, the better.’
Asked for more specifics on when the government will run out of cash to pay its bills, Mr. Mnuchin said he would prefer not to give a range at this time.”
-Kate Davidson, “Mnuchin Urges Congress to Lift Debt Ceiling Before August Recess,” The Wall Street Journal online, June 12, 2017 06:37pm