Congress needs to act soon to avoid catastrophic US debt default, CBO report warns | CNN Politics

The Congressional Budget Office says the US is projected to add nearly $19 trillion to the national debt by the end of 2033

The federal government will be unable to fully pay its obligations sometime between July and September if Congress doesn’t address the debt limit before then, the Congressional Budget Office said Wednesday. That’s when the agency expects the Treasury Department will exhaust its ability to borrow additional funds using extraordinary measures.

But the CBO report quickly prompted those on both sides of the aisle to trade accusations that the other party was responsible for the nation’s fiscal dilemma – with Democrats blaming Republicans’ penchant for tax cuts and Republicans pointing to spending packages enacted by Biden and Democratic leaders in Congress. It also has federal budget watchdogs sounding the alarm.

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

CNN /  🏆 4. in US

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

U.S. deficits are set to surge over next decade, Congressional Budget Office saysThe U.S. budget deficit is on track to surge over the coming decade, the Congressional Budget Office said, with cumulative deficits of $18.8 trillion — nearly 20% higher than the agency projected last May.
続きを読む »

U.S. risks debt default as soon as July, Congressional Budget Office estimatesThe U.S. government could be at risk of a payment default as early as July if the debt limit isn't raised, the nonpartisan Congressional Budget Office said.
続きを読む »

Congressional Budget Office projects higher unemployment, slow exit from inflationThe updated 10-year Budget and Economic Outlook outlined stark expectations for the coming year as high interest rates and inflation continue.
続きを読む »

CBO projects higher unemployment, slow exit from inflationThe Congressional Budget Office says it expects the U.S. economy to stagnate this year
続きを読む »

Debt limit will hit by September, federal forecasters predictThe federal government will run out of cash between July and September of this year, the Congressional Budget Office predicted. That could put the apex of the debt limit standoff right in the middle of lawmakers’ August recess.
続きを読む »

CBO projects higher unemployment, slow exit from inflationThe Congressional Budget Office said it expects the U.S. economy to stagnate this year with the unemployment rate jumping to 5.1%.
続きを読む »