US risks default as soon as August without debt-ceiling action, CBO estimates
The U.S. government will probably risk defaulting on some of its $36.6 trillion in debt as soon as August - or possibly even by late May - unless Congress acts to raise the nation's debt ceiling, the non-partisan Congressional Budget Office forecast on Wednesday. The CBO's forecast of the so-called "X-date" when the Treasury Department would no longer be able to cover its obligations follows an estimate by the Bipartisan Policy Center on Monday that the U.S. could face the risk of default sometime between mid-July and early October. The CBO said the date would "probably" occur in August or September.
Reuters
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1 hour ago