|
Treasury's Bessent says US is 'never going to default' as debt limit deadline looms By America-Today June 3, 2025
Bessent was asked if he thinks the government has more wiggle room if they don't raise the debt limit by mid-July. The treasury secretary responded and said that "we don't give out the X date, because we want to use that to move the bill forward." Budget analysts have estimated that the so-called "X date" ¨C when the Treasury will exhaust the budget tools known as extraordinary measures that it's using to make debt payments ¨C will most likely be reached in late summer. The nonpartisan Congressional Budget Office estimated in March that those extraordinary measures "will probably be exhausted in August or September 2025" and noted there is uncertainty due to potential variations in tax collections and government spending, which could mean it arrives earlier or later than that range. The Bipartisan Policy Center also released an estimate in March which reflected that uncertainty, projecting the X date would arrive between mid-July and early October. |
¡¡
¡¡