The Impending Debt Default and Political Games in Washington.
TL;DR Summary
Two new analyses support Treasury Secretary Janet Yellen's warning that the US could default on its debt as early as June if Congress doesn't act. A weaker-than-expected tax season has increased the odds that Treasury won't have enough funds to pay the federal government's bills in early June. The so-called X-date, when the US could default, could arrive between early June and early August. If the government defaults, it would trigger an economic meltdown in the US and send shock waves through the global financial system.
- Debt default could occur in early June, forecasters say, backing Yellen CNN
- Is Congress playing a high stakes game of political chicken? BBC
- The U.S. Has Hit the Debt Ceiling. What's Next? The New York Times
- Opinion | Are Republicans Willing to Raise the Debt Ceiling? The New York Times
- Debt Ceiling: Washington's Game of Chicken Plays With Wall Street's Nerves Bloomberg
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