The debt debate, by the numbers

MSNBC
Jul. 7, 2011

The Treasury and the Bipartisan Policy Center, an outside group, have each done estimates of the declining cash balance as the government creeps closer to the day – Aug. 2, according to the latest Treasury forecast – when the $14.29 trillion borrowing limit is reached and the Treasury has a zero cash balance.

It would then need to pay vendors, federal employees, etc. entirely out of the daily incoming cash flow.