Bipartisan group projects U.S. default as soon as early June, citing ‘quite low’ cash flows

The U.S. government could default as soon as next month if Congress and the Biden administration can’t reach a debt limit agreement before then, according to a new analysis from the Bipartisan Policy Center. The updated guidance, which puts the default window between early June and early August, adds pressure to President Joe Biden and the four congressional leaders for an agreement ahead of a meeting later Tuesday.