BREAKING: CBO estimates that the U.S. will hit the debt ceiling 'sometime between July and September of this year.'
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.
The report comes amid an escalating battle between the White House and House Republicans about how to resolve the debt ceiling crisis. Republicans, who control the House, say they want toSchumer said his message to House Speaker Kevin McCarthy is: “Show us your plan. He has not. He said he wants to make cuts; he has an obligation to show what those cuts are.”
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