The federal government is essentially living paycheck to paycheck, making the X-date hard to pin down.

The latest warning to Congress came before another meeting on Tuesday between President Biden and Speaker Kevin McCarthy to resolve the debt ceiling crisis.

The commissioner, Daniel Werfel, said the agency was working to correct unfairness in the enforcement of the tax code.

A default would cause financial distress, economic disruptions and rapid increases in borrowing rates, the nonpartisan Congressional Budget Office said.

The Treasury secretary warned that a default would lead to a “very substantial downturn.”

Treasury is running out of cash, leaving little time to resolve a debt ceiling standoff that could result in default.

The bank regulator has seen staff lured away by the private sector, leaving the financial system more vulnerable to a crisis.

Mr. Banga’s appointment to a five-year term was confirmed on Wednesday by the World Bank.

The central bank must consider how looming U.S. default could impact the economy as it makes a decision on raising interest rates.

Congress controls how much money the United States can borrow. Here’s a look at why that is and what it means.