The X-date occurs when the government no longer has enough of financial reserves to pay all its bills, having used up all of its extraordinary measures . As per Treasury Secretary Janet Yellen, the US could default by 5 June if there s no deal to raise legal borrowing limit to support bill paying
Earlier, Treasury Secretary Janet Yellen said the dreaded X-date, when the US government runs out of money unless it can borrow, will now be June 5, not June 1
WASHINGTON — For all the concern over just when the government might run short of money to pay its bills, it turns out that no one can be absolutely sure exactly when the country will default — what officials are calling the “X-date” — if there’s no deal to raise