The Congressional Budget Office's new estimate underscores the urgency of resolving a bitter standoff between Republicans and Democrats over raising the United States' $31.4-trillion statutory borrowing cap.
said there had not yet been “enough progress for the leaders to get back together.”
“The extent to which the government will be able to fund the government’s ongoing operations will remain uncertain throughout May, even if the Treasury ultimately runs out of funds in early June,” the CBO said in a statement. The CBO said that in mid-May the Treasury will make outlays of around $50 billion to cover interest due on 10-year notes and on longer-dated bonds, with $10 billion to $16 billion in outlays at the end of May.
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