U.S. could face default by August if debt ceiling not addressed, Bessent says
The so-called "X-date" marks when the government could run out of borrowing power and face an unprecedented default without action from Congress to address the debt limit.
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Kaia Hubbard is a politics reporter for CBS News Digital, based in Washington, D.C. Before coming to CBS News, Kaia worked as a staff writer for U.S. News & World Report, where she wrote about politics with a focus on Congress. She also previously covered courts and reproductive rights. Kaia is a graduate of the University of San Diego, where she led the student newspaper as editor-in-chief.
The so-called "X-date" marks when the government could run out of borrowing power and face an unprecedented default without action from Congress to address the debt limit.
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