U.S. is unlikely to default on debt until after September, CBO says

06/11/2013 | Hill, The

The Congressional Budget Office has updated its projections for when the U.S. is at risk of defaulting on its debt, extending the time frame to October or November. The country's $16.7 trillion borrowing limit was reached on May 19, and the Treasury Department has been using "extraordinary measures" since.

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