Bipartisan Policy Center warns of potential US default in June.
The Bipartisan Policy Center has warned that the US could default on its debt as early as June if Congress doesn't act soon, moving up their previous projection and falling in line with what Treasury Secretary Janet Yellen recently predicted. The center estimated in February that the "X-Date" would fall during the summer or early fall. The Washington think tank also noted that extended tax filing deadlines granted to some taxpayers this spring exacerbated an already weak tax season, which increases the odds of having insufficient cash flow in early June.