US could default on its debt between August and early October, analysis finds

The federal government risks defaulting on its debt sometime this summer or early fall without congressional action to address its debt ceiling, a new analysis finds.

The Bipartisan Policy Center (BPC) projected the so-called “X-Date” will “most likely occur between August 15 and October 3” if Congress fails to act.

“Congress must address the debt limit ahead of the August recess,” Margaret Spellings, president and CEO of the Bipartisan Policy Center, said in a statement on Wednesday.