đ¨ Abstract
Treasury Secretary Scott Bessent warns that the country may exhaust its funds to pay bills by August 2025 without congressional action to raise or suspend the debt ceiling. Bessent urges Congress to act by mid-July to avoid financial turmoil. Failure to suspend or increase the debt limit could have serious consequences for financial markets, businesses, and the federal government, Bessent wrote in a letter to House Speaker Mike Johnson.
Courtesy: wtop.com
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