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U.S. can avoid default in July if Treasury can make it through June cash crunch, Congressional Budget Office says


WASHINGTON — The Congressional Budget Office on Friday said that tax revenues and emergency measures after June 15 “will probably allow the government to continue financing operations through at least the end of July.”The updated guidance otherwise reiterated the CBO’s earlier uncertainty about the debt ceiling during the first few weeks of June. Even though mid-June tax revenues could ease pressure on the Treasury through July, there’s still the risk of default in the first few weeks of June, the key government forecaster said.related investing news 22 hours ago”If the debt limit remains unchanged, there is significant risk that at some point in the first two weeks of June, the government will no longer be able to pay all of its obligations,” said the CBO report.The new report came as the White House and congressional leaders postponed a scheduled Friday meeting to continue negotiations, citing little progress so far over any deal to cut spending and pair that with a debt limit hike.Read more: Confused about the debt ceiling? Here’s what you need to know”The extent to which …

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