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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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CBO Speculates US Budget Deficit Could Surge to $693B

June, 30 2017
watermark Economic news

The Congressional Budget Office stated via its analysis report last Thursday that the US government is in danger of fully depleting its cash reserves as it scrambles to pay all of its bills before October 2017, particularly if the Congress heightens its federal borrowing price ceiling. The CBO also warned that the country’s deficit could balloon up to $693 billion if not addressed properly. Treasury Secretary Mnuchin has long since been appealing to US policymakers to increase the debt limit without any kind of conditions whatsoever before Congress postpones itself for a summer recession starting this coming July 28. Conversely, the US Treasury Department has been utilizing cash conservation procedures in order to cope with the US government’s accountabilities since last March 2017.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.