US could default on its debt by July if deal on raising the debt ceiling is not reached

(Natural News) The Congressional Budget Office (CBO) has warned that the United States could default on its national debt if Congress and the White House are unable to agree on raising the debt ceiling.

The current debt ceiling is $31.4 trillion. The U.S. is expected to reach this limit sometime between July and September, according to the CBO’s projections. For now, the Department of the Treasury is working overtime deploying a series of special accounting maneuvers, referred to as “extraordinary measures” by the CBO, to make sure the government can keep paying its obligations, such as to bondholders and to Social Security recipients.

Read more here: