Due in October, analysts say
The United States will reach the debt ceiling in mid-October this year, unless Congress takes decisive action against, Treasury Secretary Jack Lew warned, as reported by Forbes-Ukraine referring to BBC.
Last time the debt limit was raised in January. The government can no longer borrow money if it hits the limit, and therefore will be unable to fulfill social obligations such as pensions, salaries and benefits of the military health insurance.
Currently, the borrowing limit is $ 16.7 trillion.
