Published 1 year ago

U.S. could face debt-ceiling crisis this summer without deal, CBO warns

Summary by CBC News

The Congressional Budget Office on Wednesday said the U.S. Treasury Department will exhaust its ability to pay all its bills sometime between July and September, unless the current $31.4 trillion cap on borrowing is either raised or suspended.

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The Guardian

US could default on debt in July unless Congress raises ceiling, CBO warns – as it happened

Budget analysts give July to September default prediction

1 year ago·London, United Kingdom

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CBC News

U.S. could hit debt-ceiling crisis this summer unless deal is struck

The U.S. Congressional Budget Office on Wednesday said the U.S. Treasury Department will exhaust its ability to pay all its bills sometime between July and September, unless the current $31.4 trillion US cap on borrowing is either raised or suspended.

1 year ago·Canada

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Associated Press News

CBO projects higher unemployment, slow exit from inflation

WASHINGTON (AP) — The Congressional Budget Office said Wednesday that it expects the U.S. economy to stagnate this year with the unemployment rate jumping to 5.1% — a bleak outlook that was paired with a 10-year projection that publicly held U.S.

1 year ago·United States

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abc News

CBO projects higher unemployment, slow exit from inflation

The Congressional Budget Office says it expects the U.S. economy to stagnate this year

1 year ago·United States

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CNN

Congress needs to act soon to avoid catastrophic US debt default, CBO report warns

The federal government will be unable to fully pay its obligations sometime between July and September if Congress doesn't address the debt limit before then, the Congressional Budget Office said Wednesday.

1 year ago·Atlanta, United States

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Washington Times

Biden and inflation added $3.1 trillion to federal deficit, CBO reports

President Biden and the Democrat-led Congress helped add $3.1 trillion to the federal deficit over the next decade, the Congressional Budget Office said Wednesday, delivering a depressing picture of the government's finances and the economy.

1 year ago·United States

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