CBO says U.S. can avoid debt ceiling breach until July or September

[BumRushDaShow]

Source: NBC News

WASHINGTON — The United States government has enough money to keep paying its bills until at least July, and potentially longer, the nonpartisan Congressional Budget Office estimates in a new report released Wednesday.

The U.S. hit the statutory debt ceiling in January and has since been taking "extraordinary measures" to meet the country's obligations and avert default, which Treasury Secretary Janet Yellen has said would be economically calamitous.

"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," CBO said in the new report, which was published Wednesday.

The estimate is different than that of the Treasury Department, which has set a June 5 deadline for Congress to act or risk default. Treasury makes its own calculations about available funds and will issue a final decision, which it tends to adjust along the way. Asked about CBO's report, a Treasury Department spokesperson referred NBC News to Yellen's latest letter, which set the early June timeline.

Read more: https://www.nbcnews.com/politics/congress/us-debt-ceiling-deadline-july-september-cbo-rcna70673

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Link to report - https://www.cbo.gov/publication/58946

[bluestarone]

1. Well this means the RETHUGS

Will wait until then! DELAY, DELAY DELAY!

[NullTuples]

2. This is the new norm - and how pork barrel funding is shoveled in without oversight

Always wait until the last possible moment, then create a massive "omnibus" that includes everything under the sun that nobody can possibly have time to read, digest and debate.

Putting one over on the American people, that's the Republican way.

[Joinfortmill]

3. This GOP shit show pisses me off so much. I really hate these M*F*ckers.

Too much cursing for an old lady, but damn-it-all-to-hell.

[SheltieLover]

4. +1,000,000!!!