'US debt default most likely to happen between mid-Dec & mid-Feb'
U.S. Federal Reserve in Washington, D.C., the United States A Washington-based think tank has said that US federal government is most likely to default on its debt between mid-December and mid-February 2022. Friday's projection by the Bipartisan Policy Center (BPC) came after Congress earlier this month approved a bill to temporarily raise the federal government's debt limit by $480 billion to avert a looming debt default, reports Xinhua news agency. The Treasury Department reached its new borrowing limit of $28.9 trillion on October 22, and is now once again financing the federal government through "extraordinary measures" to prevent a default, according to the BPC. "With another debt limit crisis on the horizon in a few short months, the clock is ticking for Congress to once again protect the full faith and credit of the US," said Shai Akabas, BPC director of economic policy. The BPC warned that this new projection should not be misconstrued as reducing ...