U.S. Faces ‘Significant Risk’ of Running Out of Cash in June, Budget Office Warns

The Congressional Budget Office said on Friday that there was a “significant risk” that the federal government could run out of cash sometime in the first two weeks of June, setting the United States up for a default.

The warning came as the White House and congressional leaders spent the week in negotiations over how to raise the $31.4 trillion borrowing cap . The Treasury Department has been using accounting maneuvers known as extraordinary measures to keep paying the country’s bills without breaching that debt ceiling, which was officially reached on Jan. 19 . But the department has said those […]

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By Donato