RawDiary

CBO Warns: Treasury Nears Default – Debt Crisis Looms

The CBO warns that the US Treasury’s cash balance is dangerously low, raising the prospect of a default by August unless Congress acts to raise the debt ceiling. This signals a critical fiscal showdown in Washington.

24 Hours The U.S. faces a looming debt crisis as the CBO warns the Treasury may default by August. In Washington, tension grows over a leaked Signal group chat that has shaken national security, with calls for Defense Secretary Hegseth’s resignation. Markets remain volatile as tariffs and deregulation spark economic shifts, while global conflict heats up in the Black Sea with Ukraine and Russia trading accusations. Technology breakthroughs and AI innovations spur competition. Meanwhile, diplomatic maneuvers continue with shifts in Greenland visits and travel warnings from Ireland. Election overhaul and public spending cuts add to the uncertainty in America’s turbulent landscape today.

Number 35% - Decline in U.S. Treasury Reserves

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