The US Can Now Buy Canada: Treasury Cash Balance Hits A Record $1.812 Trillion

On July 17, shortly after the tax deadline date, the Treasury cash balance hit a new all time high as the Treasury pocketed tens of billions via taxes, and it is now a record high $1.812 trillion.

Putting this amount of cash in context it represents about $5,660 for every man, woman and child in the US (which many would say should be sent out directly to these people instead of provided to US corporations so they can repurchase stock), it is greater than the market cap of Apple …, and is greater than the GDP of the 10th largest nation in the world, Canada..

… the massive cash build up is likely a preamble to forgiving the roughly $500 billion in PPP grants which will be “repaid” down using Treasury cash. Yet even so, it would mean that the Treasury would still have about $1.3 trillion left over, which is curious as the Treasury’s own most recent quarterly projections anticipated “only” $800 billion in Treasury cash at the end of Q2.

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