U.S. Could Default as Soon as July

“The U.S. could become unable to pay all of its bills on time sometime between July and September, the nonpartisan Congressional Budget Office estimated, giving lawmakers several months to reach an agreement on lifting the debt limit and avoiding a default,” the Wall Street Journal reports.

“The Treasury Department ran up against the roughly $31.4 trillion debt limit in January. It is now deploying a series of special accounting maneuvers to keep paying the government’s obligations to bondholders, Social Security recipients and others.”