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Federal Debt and the Statutory Limit, November 2017

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  • Congressional Budget Office

Abstract

Under current law, as of December 9, federal debt will be at the statutory limit and the Treasury will need to take certain “extraordinary measures†to continue to raise cash without breaching the debt ceiling. If the limit is not increased, those measures will probably be exhausted and the Treasury is likely to run out of cash sometime in late March or early April, leading to delays in payments for the government’s programs and activities, a default on its debt obligations, or both.

Suggested Citation

  • Congressional Budget Office, 2017. "Federal Debt and the Statutory Limit, November 2017," Reports 53336, Congressional Budget Office.
    • Handle: RePEc:cbo:report:53336
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    File URL: https://www.cbo.gov/system/files/115th-congress-2017-2018/reports/53336-debtlimit.pdf
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    More about this item

    JEL classification:

    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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