Is America About To Run Out Of Cash?

Yes, it is...

From Zerohedge:

"And so the US Treasury has hit the proverbial paycheck to paycheck sustenance level. After burning $12.8 billion (without a change in gross debt) in cash today alone, and $75 billion in the month of March so far, primarily driven by a back end-loaded tax refund calendar, according to the Daily Treasury Statement, today's cash balance dropped to the scary level of just $14.2 billion. Without the benefit of incremental funding, this is the same amount that the Treasury burns on a good day!In other words, we take back what we said about the US Treasury existing paycheck to paycheck - Geithner now has to scramble to find funding on a day to day basis. If tomorrow operating outflows surpass $14.2 billion (and, again, the amount was $12.8 billion today) the world's "greatest" country (i.e. banana republic) runs out of cash, period. "


Turbo Tax Tim Geithner, who we all know is an upstanding member of American society, has a bit of a conundrum. He has to continue paying the bills until next week, but the U.S. is currently spending nearly everything he has at his disposal every day. This could get very interesting-especially given that the U.S. is rapidly approaching its debt ceiling. 


What happens if the U.S. runs out of cash? A sudden stop, that's what. It would be the economic equivalent to what's currently happening in Japan. If you don't have cash on hand, you should probably think about getting some. Banks have a bad habit of shutting their doors right when people need access to their money the most.