US Faces Looming Debt Crisis: Congressional Action Needed to Avoid Summer Default
2025-03-26
ABC News
The Congressional Budget Office has issued a stark warning that the US government may exhaust its funds to pay bills as early as August or September, prompting urgent calls for lawmakers to raise the debt limit. With the nation's financial stability at risk, congressional action is crucial to prevent a devastating default. As the deadline draws near, policymakers must navigate the complexities of debt ceiling negotiations to ensure the country's economic well-being. Key issues like fiscal responsibility and budget management will be under scrutiny, with the federal debt and national debt ceiling being major concerns.