The US government could run out of money after Aug. 15 without debt ceiling action: BPC

Article Synopsis

The Bipartisan Policy Center projects the U.S. could hit its debt ceiling between August 15 and October 3 unless Congress acts. With emergency funding measures nearly exhausted, default risks are rising. Republicans aim to raise the debt ceiling through Trump’s proposed spending bill, with the Senate version suggesting a $5 trillion increase.Treasury officials warn a default could cause major financial damage, while some GOP lawmakers remain opposed. The Center urges Congress to act before the August recess to avoid economic fallout.

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