Yellen Says U.S. May Exhaust Cash By Oct 18 Barring Debt Ceiling Rise

• U.S. Treasury Secretary Janet Yellen told lawmakers on Tuesday the government could run out of cash by Oct. 18 unless Congress acts to lift the federal debt limit in advance of the Treasury Department exhausting efforts to preserve resources. 
• "At that point, we expect Treasury would be left with very limited resources that would be depleted quickly," Yellen told lawmakers during a Senate Banking Committee hearing, echoing comments she made in a letter to lawmakers. 
• "It is uncertain whether we could continue to meet all the nation’s commitments after that date," she said in the letter, one day after Senate Republicans rejected a measure to raise the nation's borrowing limit to pay for previously incurred government spending. 
• The Treasury had already undertaken measures to keep government funds flowing after the debt ceiling was reached over the summer. But those measures will run out in about 20 days, although the exact date could vary.

(Source: Reuters)