US CBO also nominates June for US debt ceiling drop dead - Biden calls McCarthy

Earlier:

• Yellen says debt-limit measures may run out by June 1

The US CBO is nominating June also:

• Because tax receipts through April have been less than the Congressional Budget Office anticipated in February, we now estimate that there is a significantly greater risk that the Treasury will run out of funds in early June.
• We now know that receipts from income tax payments processed in April were less than we anticipated in our latest baseline budget projections.
• That, in combination with less-than-expected receipts through April, means that the Treasury’s extraordinary measures will be exhausted sooner than we previously projected. The projected exhaustion date remains uncertain

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Meanwhile, political twitter is reporting that US President Biden has called US House of Reps Speaker McCarthy about the debt limit.

McCarthy is currently overseas in the sun!

UPDATE:

• Biden has invited all four congressional leaders to a meeting at the White House on May 9.
• Biden called each of them Monday afternoon (US time)

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