Treasury Gaming The Debt Crisis, Tells Agencies To Stall On Payments

  • Bracing for prolonged debt ceiling negotiations, the Treasury Department has begun to tell federal agencies to delay making payments when they can.
  • The effort is to save up some funding to delay the so-called X-Date when the government goes “broke.”
  • In a memo, an official directed agencies to tell Treasury at least two days in advance about all deposits and disbursements between $50 million and $500 million, while agencies should notify Treasury five days in advance for payments even greater than that.
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