In a “shipment” of hazard signal for the federal debt limit lies the finance ministry of USAaccording to the responsible minister, Scott Bessed, who avoided giving a timetable.
“We will communicate it to Congress when we believe we are approaching,” when the US Treasury will not be able to pay all the government bills in time, Bessed said today (6.5.2025), answering questions to the House of Commerce Committee.
The US minister said the Treasury is still calculating tax revenue from the last period of filing.
The debt ceiling returned in early January and the Treasury uses special accounting maneuvers to avoid breach of the limit, while maintaining payments for federal obligations. Wall Street analysts have estimated that the Treasury is margin until August-October before the Congress is needed to increase or put aside the debt limit.
“We are on a warning orbit,” Bessed said. He also reiterated that the US government would never go bankrupt and pledged that the Treasury would not use “tricks” to bypass the debt limit.