Federal Debt and the Statutory Limit, November 2017

Congressional Budget Office

No 53336, Reports from Congressional Budget Office

Abstract: Under current law, as of December 9, federal debt will be at the statutory limit and the Treasury will need to take certain “extraordinary measures†to continue to raise cash without breaching the debt ceiling. If the limit is not increased, those measures will probably be exhausted and the Treasury is likely to run out of cash sometime in late March or early April, leading to delays in payments for the government’s programs and activities, a default on its debt obligations, or both.

JEL-codes: H60 H63 (search for similar items in EconPapers)
Date: 2017-11-30
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