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Federal Debt and the Statutory Limit, January 2018

“After incorporating the anticipated effects of recent tax legislation and actual spending and revenue amounts in December into its calculations, CBO now projects that the Treasury’s ability to borrow additional funds using extraordinary measures will be exhausted—and it will most likely run out of cash—in the first half of March 2018. If that occurred, the government would be unable pay its obligations fully, and it would delay making payments for programs and activities, default on its debt obligations, or both.”

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