From Yahoo Finance: 2025-06-02 11:50:00

Treasury Secretary Scott Bessent assured that the U.S. government will not default on its debt as the debt limit deadline approaches. Moody’s downgraded the U.S. credit rating due to rising debt. The Congressional Budget Office estimated that the Treasury’s extraordinary measures could be exhausted in August or September 2025.

Bessent declined to provide an “X date” for when the Treasury’s budget tools will be exhausted, citing the need to move the bill forward. Concerns over the federal government’s fiscal health led to Moody’s downgrading the U.S. credit rating. The Treasury Department’s depletion of extraordinary measures could lead to default and economic disruptions.

Read more: Treasury’s Bessent says US is ‘never going to default’ as debt limit deadline looms