If things go as analysts at the Bipartisan Policy Center expect, the U.S. government will face a heightened risk of defaulting on its $22 trillion debt in early September. That’s when the extraordinary measures employed by the Treasury Department, designed to keep the nation’s total public debt outstanding within a narrow range of that credit limit, will no longer be effective.
The Bipartisan Policy Center now forecasts a risk that the debt limit “X Date”—the date when the federal government can no longer pay all of its bills in full and on time—could occur in the first half of September. This
