Mnuchin Says Treasury’s Effort to Conserve Cash Is Costing Taxpayers
Treasury secretary urges Congress to raise debt limit before August recess
Mr. Mnuchin repeated his previous remarks that the government can keep employing those measures and maintain enough cash to pay its bills “through September.” But he acknowledged those efforts come with a cost to taxpayers, which one senator estimated to be around $2.5 billion.
.. “Right now effectively, as opposed to borrowing in the market at lower rates, we’re borrowing and making our trust funds whole at slightly higher rates,” Mr. Mnuchin said. “There is a real cost to doing that.”