It’s still possible the U.S. won’t hit its $31.4 trillion limit until beyond the end of July, the Congressional Budget Office said Friday.
If the U.S. government doesn’t run out of borrowing power by mid-June, the nation probably won’t risk breaching the debt limit until “at least the end of July,” Congress’ nonpartisan budget office said Friday.
The new analysis differs from other predictions on the best-case scenario, anticipating the government could have enough borrowing power until August. At the start of this month, the Treasury Department had almost $360 billion in borrowing power, the budget office said Friday. That includes $316 billion in cash, plus $41 billion from the “extraordinary measure” administration officials can use to bolster the nation’s borrowing cushion when the government gets close to hitting the so-called X-date.
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