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News Link • Government Debt & Financing

Debt ceiling 'X date' could hit Oct. 18

 Estimating exactly when the Treasury Department will be unable to pay all the bills coming due if Congress fails to raise the nation's legal borrowing limit is notoriously difficult.
That's why, in an analysis released Tuesday, the Bipartisan Policy Center put the "X date" between Oct. 18 and Nov. 5.

Treasury Secretary Jack Lew has warned that by mid-October the agency will have only $50 billion in cash on top of incoming revenue.

That may sound like a lot. But, as the Bipartisan Policy Center details, it won't last very long.

1 Comments in Response to

Comment by Powell Gammill
Entered on:

This is a lie.  We exceeded the debt ceiling at around May 17th when the nation debt ceased being reported by the federal government and the Treasurer of the United States began illegally spending what he did not have:

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