Debt Ceiling Drop Dead Date Barely A Month Away
According to a new report, we have just a little more than a month before the consequences of not raising the debt ceiling begin to hit:
The next debt ceiling battle could come as soon as mid-February, when the federal government looks to hit its borrowing limit, a new report says.
“Based on financial data from Treasury, we estimate that the government will be unable to pay all of its bills as early as February 15, also known as the X Date” said Steve Bell, senior director of the Economic Policy Project at the Bipartisan Policy Center, in a statement.
The Bipartisan Policy Center announced the findings of the organization’s study on Monday. According to a release from the Center, their analysis indicates that “the federal government will be unable to meet all of its spending obligations as early as mid-February unless the debt ceiling is raised.”
Meanwhile, the House is out this week and the Senate is in recess until after Inauguration Day.