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One Bank Calculates Interest On US Debt By Year-End: It's Up By A Lot

Tyler Durden's Photo
by Tyler Durden
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First the good news: now that Yellen's parting gift has arrived, and the US hit its debt ceiling (on the day Trump was inaugurated) until such time as said ceiling is lifted again some time in the late summer which it will be as the alternative is default,  total US debt will remain unchanged for as much as 5 or 6 months as the Treasury drains down its cash balance which at last check was around $670BN and will gradually drop to zero over the next few months.