US risks debt payment default, CBO warns

By Agence France-Presse

Feb 17, 2023 12:04 am

WASHINGTON, D.C.: The United States risks defaulting on payment obligations as soon as July if lawmakers fail to resolve a gridlock and raise the federal borrowing limit, according to Congressional Budget Office (CBO) estimates on Wednesday.

The forecast by the nonpartisan office serving Congress comes as Republicans threaten to block the usual rubber-stamp approval for raising the nation's credit limit, if Democrats do not first agree to steep future budget cuts.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Nvidia meets Trump amid AI trade tensions

Samsung Q4 operating profit jumps 129.85%

Apple profit climbs to $124.3B

US economic growth holds steady in 2024

Nissan, Honda to make merger decision mid-Feb

Global air travel hits record in 2024

Denso reports rise in Q3 earnings