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U.S. House Speaker Kevin McCarthy (R-CA) and Republicans in Congress have raised the prospect of using the debt limit to force Democrats to the negotiating table on spending cuts. (Drew Angerer/Getty Images)

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 […]