<p>The <a href="https://www.dailywire.com/topic/congressional-budget-office-cbo" target="_blank" rel="noopener">Congressional Budget Office</a> warned on Friday that there exists considerable “uncertainty” with respect to government <a href="https://www.dailywire.com/topic/budget" target="_blank" rel="noopener">funds</a> over the next several weeks as congressional leaders negotiate over a potential <a href="https://www.dailywire.com/topic/debt-ceiling" target="_blank" rel="noopener">debt ceiling</a> increase with the <a href="http://dailywire.com/topic/biden-administration" target="_blank" rel="noopener">White House</a>.</p>
<p>The debt ceiling, a policy established by <a href="http://dailywire.com/topic/congress" target="_blank" rel="noopener">Congress</a> that prevents the federal government from spending beyond a predetermined national debt limit of $31.4 trillion, surpassed the threshold earlier this year. Treasury Secretary Janet Yellen <a href="https://www.dailywire.com/news/yellen-warns-of-debt-default-as-early-as-june-1" target="_blank" rel="noopener">warned</a> last week that the nation could face a default as soon as June 1 unless the debt limit is suspended or increased.</p>
<p>The Congressional Budget Office, a nonpartisan agency which provides lawmakers with budgetary and economic analysis, cautioned in a <a href="https://www.cbo.gov/publication/59160" target="_blank" rel="noopener">report</a> that the “extent to which the Treasury will be able to fund the government’s ongoing operations will remain uncertain throughout May.” The document added that the “extraordinary measures” officials have used to fund operations for the past several weeks could expire “at some point in the first two weeks of June.”</p>
<p>“If the debt limit is not raised or suspended before the Treasury’s cash and extraordinary measures are exhausted, the government will have to delay making payments for some activities, default on its debt obligations, or both,” the report commented.</p>
<p>Should remaining cash and extraordinary measures last until June 15, on the other hand, the government may be able to fund operations “through at least the end of July” as consumers and businesses pay expected quarterly taxes. “Certain large flows of cash into and out of the Treasury follow a regular schedule that directly affects the amount of debt subject to limit,” the agency added.</p>
<p>Treasury officials can, among other “extraordinary measures,” continue to pause investments into the Thrift Savings Plan and continue to suspend the issuance of new securities for the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund.</p>
<p>Continued disagreement about an amendment to the debt limit between Democrats and Republicans centers on whether the move will occur alongside broader spending reforms. President Joe Biden <a href="https://www.dailywire.com/news/republicans-have-done-our-part-mccarthy-blasts-biden-after-first-debt-ceiling-negotiation-in-months" target="_blank" rel="noopener">discussed</a> mechanisms to increase the debt limit this week with House Speaker Kevin McCarthy (R-CA), House Minority Leader Hakeem Jeffries (D-NY), Senate Majority Leader Chuck Schumer (D-NY), and Senate Minority Leader Mitch McConnell (R-KY).</p>
<p>Biden, who has contended that Republicans are risking economic calamity by asking for spending reforms, said in <a href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2023/05/09/remarks-by-president-biden-on-debt-ceiling-negotiations/" target="_blank" rel="noopener">remarks</a> that he found the meeting to be “productive,” while McCarthy, who noted that Democrats waited more than three months to resume negotiations launched earlier this year, <a href="https://www.speaker.gov/speaker-mccarthys-response-after-white-house-meeting/" target="_blank" rel="noopener">commented</a> that he “did not find progress” in the discussions.</p>
<p><b><a href="https://onelink.to/dwapp" target="_blank" rel="noopener noreferrer" aria-describedby="sk-tooltip-9096" data-saferedirecturl="https://www.google.com/url?q=https://onelink.to/dwapp&amp;source=gmail&amp;ust=1683992827801000&amp;usg=AOvVaw1sAvvRJ90ru6ybj_DWo2Gy">CLICK HERE TO GET THE DAILYWIRE+ APP</a></b></p>
<p>“The only thing we’re asking is that next year we spend the same amount of money we spent five months ago,” McCarthy said after the meeting, noting that the debt limit talks were the first time all four congressional leaders have met with Biden since the new Congress started earlier this year. “Unfortunately in this meeting I heard nothing new.”</p>
<p>A default would indeed cause a recession should the federal government, a major borrower of funds that investors broadly consider stable, neglect to repay obligations. The national debt, which surpassed the $31.4 trillion debt limit this year to reach $31.7 trillion, is meanwhile a source of persistent financial risk and a damper on economic growth.</p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Extent To Which Government Can Be Funded Without Debt Ceiling Is ‘Uncertain,’ Agency Warns

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

Biden Administration

Congress

Congressional Budget Office (CBO)

Debt Ceiling

National Debt

Politics

Treasury Department

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Extent To Which Government Can Be Funded Without Debt Ceiling Is ‘Uncertain,’ Agency Warns