The US will run out of money to pay its national debt in mid- or late summer, Treasury Secretary Scott Bessent has said.
The US is facing a default on its national debt in mid- or late summer. This was stated by the country’s Treasury Secretary Scott Bessent, Bloomberg news agency reports.
During a hearing in the House of Representatives Committee on Means and Procedures, Bessent answered the question of when the US will run out of money to pay its national debt. In his opinion, this will be in mid- or late summer.
“The so-called “X” date is a moving target,” the American government official explained.
Summer technically lasts from June 20 to September 22. The Congressional Budget Office said the day before that, according to its forecasts, the US will run out of money to pay its debt in mid-August.
As we already wrote, Ukraine was unable to reach an agreement with creditors and missed a payment of $665 million on public debt related to so-called GDP warrants – debt obligations tied to the rate of economic growth.
