A potential showdown over the U.S. debt limit is projected to hit Capitol Hill by mid-June, according to a new calculation by the Economic Policy Innovation Center (EPIC). The model released by EPIC suggests that the U.S. government could exhaust its ability to pay debts by June 16, 2025.
The director of Budget Policy at EPIC, Matthew Dickerson, highlighted that the government is projected to run a $2 trillion deficit next year, necessitating an increase in the debt limit to meet spending obligations.
