Debt Default Could Occur in Early June, Think Tank Warns, as Biden, McCarthy Standoff Continues

Department of Treasury building in Washington, on April 10, 2023. Madalina Vasiliu/The Epoch Times

The Bipartisan Policy Center (BPC) reported that the U.S. government would likely default on its payment obligations sometime between early June and early August if changes aren’t made.

The group’s May 2023 debt-limit analysis report, which was released on May 9, cited pressure from a decline in tax revenue as the support for their conclusion on a default date.