The U.S. government may no longer be able to meet all its debt obligations between early June and early August, according to a projection. Costs for taxpayers are already increasing because of Washington’s debt-limit standoff.
The U.S. government is likely to have insufficient cash to meet all of its financial obligations sometime between early June and early August if Congress doesn’t raise the federal borrowing limit, according to a new projection released Tuesday by the Bipartisan Policy Center.
The think tank’s estimate falls in line with a forecast that Treasury Secretary Janet Yellen made last week, as she said her department’s best estimate is that it could be unable to continue to satisfy all obligations “by early June, and potentially as...
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