The U.S. will hit its debt limit sooner than expected, and the deadline to avoid default could get ‘uncomfortably close’ when Congress is on vacation
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The federal government has a $41.1 trillion borrowing limit and is already closing in on it, meaning lawmakers will have to hike it again sometime next year when Democrats are in control of Congress.
Analysts at Bank of America estimated that the U.S. will officially reach the ceiling as early as February, sooner than its prior forecast for May, as there’s only $557 billion of room left in debt outstanding subject to the limit.
The Treasury Department can still keep the fed
Analysts at Bank of America estimated that the U.S. will officially reach the ceiling as early as February, sooner than its prior forecast for May, as there’s only $557 billion of room left in debt outstanding subject to the limit.
The Treasury Department can still keep the fed
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