Reported about 10 hours ago
The Congressional Budget Office (CBO) has projected that the US government could face a shortfall in funds to meet its financial obligations between mid-August and the end of September 2025. This revised timeline provides Congress additional time to negotiate a deal to raise the federal borrowing limit, after the debt limit was reinstated earlier this year. Treasury Secretary Scott Bessent has urged Republicans to pass legislation raising the debt ceiling by mid-July to avoid running out of capacity to pay bills on time.
Source: YAHOO