US Could Hit Debt Ceiling in June, Banks Warn
(Worthy News) – The U.S. government’s deadline to raise the $31.4 trillion debt ceiling could be sooner than expected, raising the prospect of a short-term debt limit extension, analysts said Tuesday.
Goldman Sachs analysts said weak tax collections so far in April indicate a higher probability that the so-called “X-date,” when the government is no longer able to pay all its bills, would be reached in the first half of June. Analysts at Citi said they expected a short-term deal in June or July.
The Treasury Department has warned that the federal government could reach the moment when it will no longer be able to meet its financial obligations as early as June 5, while the nonpartisan Congressional Budget Office has forecast that moment would come sometime between July and September. [ Source (Read More…) ]
Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.
đĄ Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.
đ˘ Social media algorithms push content further when thereâs more engagement â so every đ like, đŹ comment, and đ share helps more people discover the truth. đ
Latest Worthy News
If you are interested in articles produced by Worthy News, please check out our FREE sydication service available to churches or online Christian ministries. To find out more, visit Worthy Plugins.
