Impending U.S. Debt Default Threatens National Security.
TL;DR Summary
The Bipartisan Policy Center has warned that the US faces an "elevated risk" of running out of cash to pay its bills between June 2 and 13 if Congress does not raise or suspend the nation's debt limit. The Treasury Department will be operating on "dangerously low" cash reserves after Memorial Day, and each day in June would come with increasing risk. The federal government could get a reprieve if it can muster sufficient revenue to make it to June 15, when quarterly tax payments are due.
Topics:nation#bipartisan-policy-center#business#default-risk#federal-spending#treasury-department#us-debt-limit
- New Report Underscores Increasing Chances of U.S. Default in Early June The New York Times
- Debt ceiling: Washington grapples with ‘hard choices’ if no deal is in place by June 1 Yahoo Finance
- In new letter, Janet Yellen warns Speaker McCarthy US will breach debt limit June 1 Fox Business
- What a debt default would mean for national security The Hill
- Yellen warns Congress again that default could be just days away, but others forecast a little more time CNN
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