The latest estimate is a slight extension from the previous June 1 deadline and comes as Republicans and the White House are trying to reach an agreement to raise the debt ceiling and avoid a crippling default.
Category: Treasury Department
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$49.5 Billion in U.S. Treasury? For These Billionaires, That’s Nothing
The cash balance at the Treasury Department is now lower than the net worth of some of the world’s richest people.
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Investors See Hope for a Debt Limit Deal
Stock and bond trading suggest that investors see an imminent deal to raise the debt limit and prevent the federal government from defaulting.
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Yellen Warns of Missed Payments if Debt Limit Is Not Lifted
The Treasury secretary said the Biden administration would face “very tough choices” if Congress did not act.
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JPMorgan’s Succession Plans for Jamie Dimon May Weigh on Investors
Revelations about rivals’ plans may prompt the bank’s shareholders to ask about who will replace Jamie Dimon at an annual investor gathering on Monday.
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When Will the U.S. Run Out of Cash? The Answer Is Complicated.
The federal government is essentially living paycheck to paycheck, making the X-date hard to pin down.
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Debt Ceiling: Yellen Reiterates That U.S. Could Run Out of Cash by June 1
The latest warning to Congress came before another meeting on Tuesday between President Biden and Speaker Kevin McCarthy to resolve the debt ceiling crisis.
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U.S. Faces ‘Significant Risk’ of Running Out of Cash in June, C.B.O. Warns
A default would cause financial distress, economic disruptions and rapid increases in borrowing rates, the nonpartisan Congressional Budget Office said.