The United States may not run money to pay its bills in August without a debt limit agreement, said CBO

Washington (AP) The United States is on the right track to reach its statutory debt ceiling The so-called X-Date when the country fails to pay its bills in August without agreement between the legislators and the White House, according to a Congressal Budget Office report on Wednesday.

At that time, the government would no longer have enough financial cushion to pay all its bills after having exhausted its extraordinary measures the accounting maneuvers used to extend the existing funds.

Washington would risk defect in its debt unless the congress and republican president Donald Trump accepts to lift the borrowing limit or completely remove the debt ceiling concept.

The debt limit was restored on January 2, following its suspension by the Congress in the 2023 tax liability law.

The treasure has already reached the current debt limit of 36.1 billions of dollars, it therefore has no room to borrow under its standard operational procedures, according to the CBO report.

An analysis published Monday by the Bipartisan Policy Center believes that the United States could lack liquidity by mid-July if the congress had not raised or suspended the limit of the debt of the nations.

Trump had previously demanded that a provision increasing or suspended the debt limits something that his own party is regularly resistant in legislation to avoid the last potential closure of the government. Everything else is a betrayal of our country, said Trump in a statement in December. This agreement did not address the limit of debt.

Experts say that a prolonged defect period could cause the loss of millions of jobs and an economy. Government payments to millions of families would probably be unpaid, in particular social security beneficiaries, veterans and the families of the military. There may be disturbances in operations such as air traffic control and food security.

Given these consequences, the congress and the presidents have always found a means, even at the last minute, to avoid a defect.

The nation has crossed several prolonged debt ceiling fights between the Democrats of the Congress and the Republicans, especially in 2011 and 2023, when the legislators suspended the debt limit until January 1, 2025, rather than increasing the ceiling by dollars.

After the debt limit was restored in January, in one of his last acts as the Treasury secretary, Janet Yellen said that the treasure would institute extraordinary measures “intended to prevent the United States from reaching the debt ceiling.

Since then, the Treasury Department has ceased to pay certain accounts, including a series of federal retirement and disability funds of workers, to compensate for the money deficit. The secretary of the Treasury, Scott Bessent, continued to inform the congress of the use of extraordinary measures in order to prevent a violation of the debt ceiling.

The CBO believes that if the debt limit remains unchanged, the capacity of governments to borrow using extraordinary measures will probably be exhausted in August or September 2025. The scheduled exhaustion date is uncertain because the time and amount of income collections and expenses during the intermediate months could delay CBOS projections.

The room added an increase of 4 dollars of the debt ceiling as part of a republican budgetary plan which opens the ground to extend the individual tax reductions adopted at the first mandate of Trumps.

But the Senate must agree on this increase, and it cannot be clear at this stage if the room led by the Republicans will do so. GOP leaders in the House and Senate continue to negotiate a track, with the last meeting on Tuesday at the White House.

Democrats say that they are ready to work with the Republicans for an increase in the debt ceiling, but not as a pretext for making tax reductions which, according to them, will help the richest Americans to the detriment of those who count on major safety net programs.

Democrats are ready to work in the aisle to prevent a catastrophic defect. But the Republicans must work with us to protect Social Security, Maladie and Medicaid, said the representative of Pennsylvania, Brendan Boyle, the classification democrat of the Chamber's Budget Committee.

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