The US risks defaulting on its $36.6 trillion debt as early as August: details

The US government may default on its $36.6 trillion debt as early as August or September if Congress does not raise the national debt ceiling. This was reported by Reuters with reference to the Congressional Budget Office (CBO), informs UNN.

Details

It is noted that the CBO’s forecast regarding the so-called “X date”, when the Ministry of Finance will no longer be able to cover its obligations, was preceded by an assessment by the Center for Bipartisan Policy that the US may face the risk of default between mid-July and early October.

Republicans, who control the House of Representatives and the US Senate, have not said when they intend to push through a law to raise the debt limit set by Congress

The publication indicates that legislators negotiated until the last moment to raise the limit on government borrowing, which caused instability in financial markets and forced rating agencies to lower the US credit rating.

Recall

The European Union has postponed the introduction of duties on American goods in response to duties introduced by US President Donald Trump until mid-April 2025. This will allow time for negotiations and possible adjustments to the list of goods.

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