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01.03 - 11:47
U.S. Could Default as Soon as July if Debt-Ceiling Standoff Isn’t Resolved
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WASHINGTON—The U.S. could become unable to pay all of its bills on time sometime between July and September, the nonpartisan Congressional Budget Office estimated, giving lawmakers several months to reach an agreement on lifting the debt limit and avoiding a default.
The Treasury Department ran up against the roughly $31.4 trillion debt limit in January. It is now deploying a series of special accounting maneuvers to keep paying the government’s obligations to bondholders, Social Security recipients and others.
Read more on wsj.comAbout this in other media
Fed minutes show members resolved to keep fighting inflation cnbc.com /1 year ago
US could face default as soon as June if debt ceiling isn’t lifted, says thinktank theguardian.com /1 year ago
Debt-Ceiling Standoff Prompts Backup Plans, but They Face Hurdles Too wsj.com /1 year ago
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