Model shows US debt ceiling could be breached as early as mid-July

Bipartisan Policy Center in the United States stated that a model released on Monday showed that if Congress does not take action, the United States may hit the debt ceiling sometime between mid-July and October. The agency also mentioned that although the possibility is small, if this year's tax revenue is lower than expected, the so-called "X day" could arrive in early June. The U.S. Treasury Department has not predicted which day "X day" will occur, when the federal government will be unable to exercise its payment functions. Wall Street estimates that "X day" could arrive as early as the end of May (estimated by BNP Paribas), or as late as the end of August or the third quarter (predicted by institutions such as Bank of America, Barclays, and Daimler Securities).