Without a deal between Democrats and Republicans, the United States could find itself in default as early as June, according to the Congressional Budget Service.
The United States could find itself in default as of early June, if an agreement is not reached between Democrats and Republicans to raise the debt ceiling, the Congressional Budget Service (CBO) said on Friday.
The CBO, a politically independent agency responsible for providing Congress with fiscal and economic analysis, had previously estimated that this was likely to happen between July and September. The Treasury Department, however, had already mentioned the date of June 1 for a possible default of the world’s largest economy, an unprecedented situation.
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Source: BFM TV
