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CBO: U.S. Government, Running on Fumes Since March, Could Run Out of Cash by Mid-October

The government could run out of cash to pay its bills in early to mid-October, unless Congress raises the federal borrowing limit, according to a new analysis from the Congressional Budget Office released Thursday. The Treasury Department has been using cash-conservation measures to continue meeting the government's obligations since mid-March, when federal debt hit Congress's self-imposed limit at nearly $20 trillion.
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