The U.S. could face an unprecedented default on its obligations as soon as early June if Congress does not act to lift the debt limit, a Washington think tank said Wednesday.
The Bipartisan Policy Center, which forecasts the approximate “X-date” when the government will no longer be able to meet its financial obligations on time, said the U.S. will reach its statutory debt limit as soon as the summer or early fall of 2023. That inches up from the center's previous prediction in June 2022 that the “extraordinary measures” that U.S. Treasury uses to pay the government's bills would not be exhausted before the third quarter of 2023.
