Economists Warn U.S. Government Could Run Out of Cash to Pay Bills Sooner Than Expected

Tax collections in April fell short of projections, indicating the deadline to avoid defaulting on payments could come in early June.
The Treasury Department has warned it may not have enough money to meet all of its financial obligations starting as early as June 5.
The House Speaker has proposed spending cuts in exchange for raising the debt ceiling.
The cost of insuring U.S. debt against default has risen to its highest level since at least 2018.
The yield on very short-term Treasury bills has also jumped to the highest in years as investors worry about a potential missed payment.