Likelihood of Government Default and Economic Crash Delayed Until July.

The US government is unlikely to face a catastrophic default on its debt until late July, according to new data on the 2023 tax season. The Treasury Department has been juggling various ways of keeping below the $31.38tn debt limit since January, but headroom from those accounting maneuvers has been shrinking. The new data pointed away from June as a potential default date, but analysts are still cautious. A default on the debt would be unprecedented and likely mean an economic crisis.