U.S. Treasury Going Broke: $58.6B in Cash, $130.5B Borrowing

Liberty Alerts, Terence P. Jeffrey, CNSNews.com

Imagine that you had an average monthly income of about $170 balanced against average monthly expenses of about $940–and that you were more than $14,000 in debt.

Then imagine that as of today, you had only $58.60 in cash left in your bank account and $130.50 left on your line of credit. Now multiply these numbers by 1 billion and you will have the up-to-date financial situation of the U.S. government.

According to the Daily Treasury Statement released by the U.S. Treasury Department today at 4:00 p.m., the Treasury had $58.6 billion in cash in its accounts as of the close of business on Tuesday. That was down from $190.6 billion at the beginning of March and $309.8 billion at the beginning of this fiscal year on Oct. 1, 2010.

Continue at CNSNews.com>>>

Used with the permission of CNSNews.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here