'Significant risk' for debt default in early June, CBO reinforces
Headline from Local News 8, on the newest of 2 developments
By Tami Luhby, CNN There is a “significant risk” that the federal government will no longer be able to pay all its obligations in the first two weeks of June if the debt limit remains unchanged, the Congressional Budget Office said Friday.
Local News 8's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
Two new analyses are backing Treasury Secretary Janet Yellen's forecast that the nation could default on its debt -- and unleash economic chaos -- as soon as early June if Congress doesn't act.
The warnings about a US debt default are earnest and urgent. And yet, the specifics of when the US will cross the so-called X-date -- when the country could default -- and what will happen in the immediate aftermath are maddeningly vague.
By Tami Luhby, CNN There is a “significant risk” that the federal government will no longer be able to pay all its obligations in the first two weeks of June if the debt limit remains unchanged, the Congressional Budget Office said Friday.
The government faces a significant risk that it will be unable to pay all of its bills in the first two weeks of June unless the debt ceiling is increased, the Congressional Budget Office said.
