Congressional budget worried about US debt with growing inflation

[{"selector":"#anim-17fef8cd-8ab5-404a-beff-bb6b103e665d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-02d8e328-9eb0-40d9-80a4-93a6b8e9d5bd","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

On wednesday The Congressional Budget Office (CBO) will provide some clarity on when the US may default on its payment obligations

[{"selector":"#anim-4300f773-8905-4084-9e3f-9ed3f8e95f7a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c504d1f1-61e8-4623-b81c-45f8e6cdd97b","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The nonpartisan fiscal referee agency will announce 2023 baseline budget forecast of USA budget spending

[{"selector":"#anim-67230df2-fef2-4c3f-ba85-85af4e584dba","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-e9c241d4-c2b9-4e47-9cae-294bfdf53003","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

These 10-year projections may inflame the spending debate in Congress, prompting calls

[{"selector":"#anim-8157620a-0dfa-47cd-a0d4-369eb39946b8","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-eb9e555c-e554-4b26-ab04-4f1322bc3fd4","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

A second CBO report will detail the "current debt situation and CBO's expectation about when the Treasury will no longer be able to fully pay its obligations if the debt limit is not raised."

[{"selector":"#anim-f568e5dd-22db-4d58-bd6a-f39bad7ce315","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-591b6473-db19-407a-8aa8-3de114de5a66","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Treasury comes under debt after hitting the $31.4 trillion borrowing capital

[{"selector":"#anim-0c454e56-6320-46ef-97af-a3e158bc4590","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-6d545dfe-6132-4abe-88f5-fe582e1735e8","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Some fiscal experts estimate Treasury can last until the summer.

[{"selector":"#anim-62dc3c36-ea75-4d44-a4c3-b0c5bf42558c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-421109ad-83ee-4c5a-a2a4-3fbcc97ca551","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

But Shai Akabas, director of economic policy, stated that the CBO forecast will offer a trustworthy reference point.

[{"selector":"#anim-625454a8-a5fd-4b39-84d2-5e78ff710348","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a2ec9a00-5a7f-44cb-8708-cf8d450a8b76","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

So far in 2023, not a single day on Capitol Hill has passed without lawmakers arguing about the debt limit

[{"selector":"#anim-431f5491-50d1-4dac-ad7a-2be54ece63e1","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c863d6c6-b0e7-47cd-8802-3917200e21c8","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The Inflation is severely impacted on treasure causes high debt

[{"selector":"#anim-6d16950f-d902-4ec6-b411-b6960b38d397","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-de825335-5b6a-4779-a123-6827ff59f79d","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]