U.S. may run out of cash by mid-July

The United States may run out of cash by mid-July, according to a report from the Bipartisan Policy Center. This deadline, known as the "X-date," marks when the country could fail to meet its financial obligations. If Congress doesn't raise or suspend the debt limit, crucial government payments could be at risk. The date is not fixed and could vary due to how much short-term financial maneuvering the Treasury can do. The analysis suggests the X-date could stretch until early October. Lawmakers and the Trump administration are expected to focus on the debt limit later this year. This comes as Republicans aim to implement significant tax cuts. The debt limit is the maximum amount the U.S. can borrow to fund its operations. The federal government often runs budget deficits, meaning it spends more than it earns. To cover costs, it borrows money for various obligations, including social programs and military salaries. If the debt limit is not addressed, these payments could be impacted.