US Could Default on Debt as Early as Summer, New Study Estimates

The Treasury Department building in Washington, on Jan. 19, 2023. Saul Loeb/AFP via Getty Images

The United States will run out of existing funds to pay the nation’s bills within seven months unless Congress raises the debt ceiling, a bipartisan group confirmed on Feb. 22

The “X Date” when the government will have to begin delaying some payments can’t be predicted with certainty, according to the Bipartisan Policy Center (BPC), but will likely come in summer or early fall of 2023.