Congress Risks August Default Without Debt-Ceiling Action: Congressional Budget Office

The latest forecast is ‘a clear warning sign,’ the Committee for a Responsible Federal Budget said.

The national debt clock displayed at a bus station in Washington on Jan. 2, 2025. Madalina Vasiliu/The Epoch Times

The United States could risk default in August or September without a debt-ceiling agreement between the White House and lawmakers, the Congressional Budget Office (CBO) said on March 26.

A new report by the federal budget watchdog projected that Congress would need to reach a deal or suspend the debt ceiling by August or September. The CBO noted that the timing could change based on revenues or outlays.