Treasury Secretary Scott Bessent reiterated on Tuesday that his department is on the “warning track” when it comes to nearing the federal debt ceiling, though he declined to provide a specific deadline.
Bessent: the US Government will never default, we will raise the debt ceiling
5/6/2025
“We’ll notify Congress when we believe we’re approaching the so-called X-date,” Bessent told lawmakers during a hearing before the House Appropriations Committee, referring to the point when the Treasury can no longer ensure that all government bills are paid on time. He added that the department is still processing tax revenue from the recent filing season.
Since the debt ceiling was reinstated in early January, the Treasury has relied on temporary accounting measures to continue meeting federal payment obligations without breaching the legal borrowing limit. Analysts on Wall Street estimate that Treasury may run out of maneuvering room sometime between August and October unless Congress takes action to raise or suspend the cap.
“We are on the warning track,” Bessent repeated, emphasizing that the U.S. government will not default. He also assured lawmakers that the Treasury has no plans to resort to “gimmicks” to circumvent the debt limit.
Elon Musk has said he is back
5/24/2025 11:31 PMNvidia, NVDA, to launch cheaper Blackwell AI chip for China after US export curbs
5/24/2025 11:25 PMRay Dalio has said the risks from U.S. credit downgrade ‘are greater than the rating agencies are conveying’
5/23/2025 7:39 PMU.S. economy is experiencing ‘death by a thousand cuts’, Deutsche Bank has said
5/23/2025 7:37 PM
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.