The U.S. Treasury is likely to exhaust its ability to borrow as soon as late October, according to the Congressional Budget Office, in the latest warning to lawmakers following their failed efforts to address the debt ceiling this week.
Barring an increase or suspension of the debt limit, the Treasury will run out of cash along with special measures to avoid a federal payments default by late October or early November, the nonpartisan CBO said in a report Wednesday. That echoes the calculation the CBO provided in July and compares with the Treasury’s estimate of Oct. 18, released by Secretary Janet Yellen on Tuesday.
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September 30, 2021 at 01:10AM
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U.S. Debt-Limit Measures May Run Out in Late October, CBO Says - Bloomberg
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