On March 2, 2019, the debt limit was reinstated at $22 trillion.
To operate the government at the debt limit, the Treasury Department once again deployed so-called “extraordinary measures,” accounting maneuvers that allow for full government operations to continue for an additional, but limited, period of time.
BPC’s analysis indicates Treasury will have enough cash on hand and extraordinary measures to operate the government until sometime in the fall of 2019.
If those extraordinary measures run out and Treasury depletes its cash reserves, the federal government would reach the “X Date” – the unprecedented day on which the U.S. government is unable to meet all of its obligations in full and on time.
BPC will release a blog detailing its current projection soon.