US Debt Ceiling Approaches Critical Point, Treasury Secretary Warns

Treasury Secretary Scott Bessent has issued a warning that the United States is nearing its debt limit, adding urgency to the crucial fiscal matter. While he acknowledged receipt of significant tax payments around April 15th, which will influence the ‘X-date’ marking the government’s cash depletion, Republicans are pushing their sweeping bill that ties tax cuts, border enforcement, and energy policy with a debt ceiling increase, aiming for passage via party lines before the X-date arrives. Bessent has pledged to deliver an updated estimate by May. He acknowledged the precarious position on