Treasury could breach debt ceiling in first half of September, much sooner than previously thought

The U.S. government could run out of money to pay
all of its bills by early September if Congress doesn’t rush to raise
the debt ceiling, a think tank said Monday, a time frame that could
force lawmakers to act much sooner than planned. The Bipartisan Policy Center
said that the Treasury Department could breach the borrowing limit in
two months because the government has brought in far less tax revenue
this year than was projected.