A new Congressional Budget Office report released yesterday saying the government has run out of money and will be unable to pay its bills beginning in November (possibly December) was backed up by the Bipartisan Policy Center (BPC).
According to a press release by BPC, “BPC has projected that the U.S. Treasury will run out of room to continue paying the nation’s bills in full and on time in the November-December time frame.”
BPC Senior Director of Economic Policy Steve Bell said:
“We still predict, as we have for several months, that November or December seems the likely time frame within which Treasury will no longer be able to borrow money from other government sources and will have to resort to day-to-day receipts in order to pay government bills.”
Read BPC’s press release in full here.
Treasury and $10 bill. Photo by Ryan McFarland.