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

The U.S. could run out of cash to pay its bills between July and September

If Congress fails to raise the nation's $31.4 trillion debt ceiling, the U.S. government could run out of cash between July and September, or even sooner, the Congressional Budget Office said.

U.S. likely to default on debt between July and September unless Congress acts, CBO says - Maryland Matters

Congress has until at least July to broker a bipartisan debt agreement if lawmakers want to avoid a first-ever default, according to the Congressional Budget Office. The nonpartisan scorekeeper, which typically details how much legislation would cost, released a report Wednesday saying that U.S. lawmakers and the Biden administration have until sometime between July and September to raise or suspend the debt limit. CBO, however, cautioned in its…

CBO projects higher unemployment, slow exit from inflation

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

US risks debt default as soon as July, says budget office

The United States risks defaulting on debt obligations as soon as July, if lawmakers fail to resolve a gridlock and raise the federal borrowing limit, according to Congressional Budget Office estimates Wednesday.

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

If the debt limit is not raised or suspended before extraordinary measures are exhausted, the government will be unable to pay its obligations fully.

US risks debt default as soon as July: Budget office

The United States risks defaulting on payment obligations as soon as July, if lawmakers fail to resolve a gridlock and raise the federal borrowing limit, according to Congressional Budget Office estimates Wednesday.