The U.S. could face an unprecedented default on its obligations as soon as early June if Congress does not act to lift the debt limit, a Washington think tank said Wednesday.
That inches up from the center's previous prediction in June 2022 that the “extraordinary measures” that U.S. Treasury uses to pay the government's bills would not be exhausted before the third quarter of 2023.
Akabas said the December 2022 big spending bill, an extended pause on student loan repayments and high interest rates resulting in higher costs to service U.S. debt have contributed to moving up the X-date. President Joe Biden and new Republican House speaker Kevin McCarthy met once earlier this month to talk about the debt limit, but expectations are low for quick progress as GOP lawmakers push for steep spending cuts in exchange for a debt ceiling deal.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
New estimate U.S. could face default on debt by early JuneThe U.S. could face an unprecedented default on its obligations as soon as early June if Congress does not act to lift the debt limit, a Washington think tank said Wednesday.
Baca lebih lajut »
New estimate U.S. could face default on debt by early JunePresident Joe Biden and new Republican House speaker Kevin McCarthy met once earlier this month to talk about the debt limit.
Baca lebih lajut »
Democratic Rep. David Cicilline says he's leaving Congress early for new job in JuneRep. David Cicilline, a Rhode Island Democrat, says he will leave Congress early at the end of May to become the new president and CEO of the Rhode Island Foundation, marking a rare resignation early in a session.
Baca lebih lajut »
Secretlab Announces All-New Footrests Coming This JuneSecretlab is making two new footrests for people to buy that will work to add comfort to their line of gaming chairs.
Baca lebih lajut »
New estimate finds US could face default on debt by early June if Congress doesn't actTreasury Secretary Janet Yellen notified Congress in January that her agency was resorting to 'extraordinary measures' to avoid default.
Baca lebih lajut »