Deputy Treasury Chief Says August Is Earliest for X-Date Worries

Deputy Treasury Secretary Michael Faulkender said that federal tax receipts have been coming in higher than a year ago, helping bolster confidence that August is the earliest point for concerns about staying within the federal debt limit.

“We’re pretty confident, based upon the receipts that came in from primary tax filing season that an August time frame is the earliest that we need to worry about the X-Date,” Faulkender said in a Bloomberg Television interview. The X-Date refers to the point at which the Treasury runs out of cash and special accounting measures to keep within the debt ceiling and still make good on federal obligations on time.