$49.5 Billion in U.S. Treasury? For These Billionaires, That’s Nothing

The Treasury Department’s cash balance fell to just under $49.5 billion on Wednesday, as the United States inched toward running out of cash to pay its bills.

That was significantly lower than the $316 billion the department had in operating cash, which is held at the Federal Reserve Bank of New York, at the start of the month.

Just how empty is the Treasury cash coffer? For comparison, $49.5 billion is on par with the gross domestic product of Azerbaijan and Tunisia and lower than the net worth of the two dozen wealthiest people in the world. Of course, much of […]

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