On March 16, 2017, the debt limit was reinstated from its suspension, and the Treasury Department began to implement its so-called “extraordinary measures” to continue meeting all of the federal government’s financial obligations. BPC’s updated projections show that, absent legislative action, those measures and the cash they generate will only last until October or November 2017. The day those measures are exhausted and Treasury runs out of cash on hand, known as the “X Date,” the federal government would no longer be able to pay its bills in full and on time.
The Congressional Budget Office (CBO) in its own projection similarly estimates that the X Date will most likely arrive in fall 2017.
All of these projections carry significant uncertainty, due to the unpredictable nature of the federal government’s cash flows. Moreover, major changes in fiscal policy or economic conditions could impact the timing of the “X Date.”
March 15, 2017: BPC’s 2017 Debt Limit “X Date” Projections and State of Play
March 15, 2017: The Debt Limit at 100
March 15, 2017: Extraordinary Measures, Simplified
March 15, 2017: The Debt Limit: 100 Years and Counting
Extraordinary Measures 101
Updated March 13, 2015: Extraordinary Measures, Simplified
February 7, 2017: Recent History of the Debt Limit
September 13, 2016: Debt Limit Brinksmanship Threatens to Return Next Year
October 27: Debt Limit “X-date” Range Updated to Nov. 10-16
U.S. Government Accountability Office: Market Response to Recent Impasses Underscores Need to Consider Alternative Approaches
January 9: Extraordinary Measures, Simplified
December 19: Late Start to Tax Filing Season Affects X Date
November 21: Thoughts on CBO’s New Debt Limit Report
November 21: Debt Limit Suspension: Frequently Asked Questions
September 25: Debt Limit Update: No Change to BPC X Date Projection
September 10: BPC’s Debt Limit Projection: Key Takeaways
January 30: When Will the Next Debt Limit X Date Be?
- What Is a Government Default on its Debt?
- Platinum Coins and IOUs: Missing the Point
- Debt Limit Analysis Update
- BPC’s Debt Limit Projection: Key Takeaways
- Will the Delay in the Tax Filing Season Affect the X Date?
Fiscal Outlook: Understanding The Federal Debt
U.S. Government Accountability Office