According to the Bipartisan Policy Center, the United States is projected to run out of cash by mid-July unless Congress raises the debt ceiling. This critical date, dubbed the X-date, represents the point at which the government can no longer meet its financial obligations, raising concerns of potential defaults. While estimates vary, the center suggests the X-date could extend into October, dependent on Treasury's use of extraordinary accounting measures. Discussions on the debt ceiling will dominate political discourse as the administration seeks major tax cuts amid a backdrop of persistent budget deficits.
The Bipartisan Policy Center warns the U.S. could exhaust cash to pay its bills by mid-July unless Congress raises the debt limit in time.
The X-date is crucial as it's when the U.S. could default on its debt, heavily influencing financial markets and government operations.
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