The best we could do pages5/12/2023 ![]() While tax receipts were always expected to be below 2021’s robust levels, they are even weaker than forecast – down around 35% so far. Yellen is expected to update her projection in the near future as the department gets a clearer picture of how much it collected in tax revenue for 2022 and the first quarter of this year.īut analysts are warning that it doesn’t look good. A variety of forecasters estimated that the so-called X-date, when the US would default, would arrive over the summer or in the early fall. When the US hit its debt ceiling in January, Treasury Secretary Janet Yellen informed Congress that cash on hand and “extraordinary measures” should last at least until early June. ![]() Interactive: The $31.4 trillion debt dilemma ![]()
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