U.S. can avoid default in July if Treasury can make it through June cash crunch, Congressional Budget Office says

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U.S. can avoid default in July if Treasury can make it through June cash crunch, Congressional Budget Office says
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Tax revenues and emergency measures after June 15 will let Treasury 'continue financing operations through at least the end of July,' said the CBO.

Jim Watson | AFP | Getty Images

The office warned that there was still "a great deal of uncertainty" around the deficit figure, in part due to an expected Supreme Court ruling on President Joe Biden's student loan forgiveness plan.the $400 billion debt forgiveness plan, given the court's conservative majority.

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