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By Staff Reporters
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The U.S. risks defaulting on its debts as early as July unless the borrowing limit is raised, the nonpartisan Congressional Budget Office said in a report just released.
CITE: https://www.r2library.com/Resource/Title/0826102549
The federal government on January 19th reached its approximately $31.4 trillion debt ceiling — which legally caps how much the U.S. can borrow to pay for what tax and other revenue doesn’t cover — and the Treasury Department has since been using “extraordinary measures” along with its current cash flow to keep the government’s obligations paid.
“CBO estimates that under its baseline budget projections, the Treasury would exhaust those measures and run out of cash sometime between July and September of this year,” according to the report.
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Filed under: "Ask-an-Advisor", Breaking News, Ethics, Investing, LifeStyle | Tagged: CBO, Congressional, COngressional Budget Office, riskyy default, Treasury Department, US defualt, US Treasury, USA Default |
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