US Debt Ceiling Deadline in June Nominated by CBO; Biden Contacts McCarthy

The US CBO is nominating June also:

  • Because tax receipts through April have been less than the Congressional Budget Office anticipated in February, we now estimate that there is a significantly greater risk that the Treasury will run out of funds in early June.
  • We now know that receipts from income tax payments processed in April were less than we anticipated in our latest baseline budget projections.
  • That, in combination with less-than-expected receipts through April, means that the Treasury’s extraordinary measures will be exhausted sooner than we previously projected. The projected exhaustion date remains uncertain,

Meanwhile, political twitter is reporting that US President Biden has called US House of Reps Speaker McCarthy about the debt limit.

McCarthy is currently overseas in the sun!

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