Source: New York Post
WASHINGTON — The US could default on its $36 trillion debt as early as July and no later than October without congressional action, according to a study released Monday. The Bipartisan Policy Center estimated that members of Congress will have to vote to increase the debt ceiling before the limit is breached for the federal government to be able to keep paying its bills on time. The four-month window reflects multiple factors that the nonpartisan group analyzed, including the amount of tax revenue collected starting in April, the devastation wrought by the Atlantic hurricane season beginning in early summer, tariff revenues and the overall strength of the US economy.
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