Congressional Budget Office

Fireplaces inside the U.S. Capitol send smoke into the sky on Jan. 6, 2023. (Photo by Jennifer Shutt/States Newsroom)

U.S. likely to default on debt between July and September unless Congress acts, CBO says

BY: - February 15, 2023

WASHINGTON — Congress has until at least July to broker a bipartisan debt agreement if lawmakers want to avoid a first-ever default, according to the Congressional Budget Office.  The nonpartisan scorekeeper, which typically details how much legislation would cost, released a report Wednesday saying that U.S. lawmakers and the Biden administration have until sometime between […]