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Debt Limit Analysis

On February 9, 2018, the Bipartisan Budget Act of 2018 was signed into law and the debt limit was suspended through March 1, 2019.

Absent further action by Congress, when the suspension expires, Treasury will once again find itself up against the debt limit. At that point, the Secretary would begin deploying so-called “extraordinary measures,” accounting maneuvers that allow for full government operations to continue for an additional, but limited, period of time.

If those extraordinary measures run out and Treasury depletes its cash reserves, the federal government would reach the “X Date” – the day when the U.S. government is unable to meet all of its obligations in full and on time. BPC’s preliminary analysis indicates Treasury will have enough cash on hand and extraordinary measures to operate the government until at least the mid-summer of 2019.

Latest Projection and Analysis

Explaining the Debt Limit

Video Explainers

Previous Analysis

For many years, BPC experts have been leading voices in debt limit analysis. Review our previous projections, analyses, and reports. 

December 19: Late Start to Tax Filing Season Affects X Date

November 21Thoughts on CBO’s New Debt Limit Report

November 21Debt Limit Suspension: Frequently Asked Questions

October 18: BPC Estimates Agreement Will Increase Debt Limit by Roughly $600 billion; Debt Limit Suspended Until February 8, 2014

October 9: Could the X Date be delayed by extending the Debt Issuance Suspension Period?

October 8: As BPC’s X Date Window Narrows, Economic Risks Grow

October 3Will the Government Shutdown Delay the X Date?

September 25Debt Limit Update: No Change to BPC X Date Projection

September 10: BPC’s Debt Limit Projection: Key Takeaways

August 26: Statement by the Bipartisan Policy Center’s Steve Bell on the New Debt Limit Deadline

July 16Debt Limit Update: Still on Track for a Fall X Date

May 23Debt Limit Reinstated at $16.7 Trillion: Updated X Date Estimate

May 9Updated X Date Estimate: GSE Dividend Announcements

May 8H.R. 807 (the Full Faith and Credit Act) and the Debt Limit

April 26The Debt Limit: Updated X Date Projection

January 31H.R. 325, The Debt Limit, and Extraordinary Measures: A Technical Note

January 30When Will the Next Debt Limit X Date Be?

January 24: Fiscal Timeline Under Passage of H.R. 325

January 24: The House Republican Debt Limit Proposal, Explained

January 16: What Is a Government Default on its Debt?

January 16: Platinum Coins and IOUs: Missing the Point

January 16: Debt Limit Analysis Update

January 11: BPC’s Debt Limit Projection: Key Takeaways

January 11: Will the Delay in the Tax Filing Season Affect the X Date?

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