Why raising the debt ceiling is not a license to spendThe CBO now estimates that Treasury might risk defaulting on some payments in the first half of October.Previously, it had predicted that the so-called X date -- the point when Treasury won't have enough cash and revenue on hand to pay all bills in full and on time -- would come sometime in the fall. "The range of possible dates has narrowed as the budget outlook for this year has become clearer and CBO has increased its estimate of the Treasury's net borrowing needs," the agency noted in a . Currently the legal borrowing limit is set at...…Why raising the debt ceiling is not a license to spendThe CBO now estimates that Treasury might risk defaulting on some payments in the first half of October.Previously, it had predicted that the so-called X date -- the point when Treasury won't have enough cash and revenue on hand to pay all bills in full and on time -- would come sometime in the fall. "The range of possible dates has narrowed as the budget outlook for this year has become clearer and CBO has increased its estimate of the Treasury's net borrowing needs," the agency noted in a . Currently the legal borrowing limit is set at...WW…

MarketsFeaturedFear & Greed IndexLatestBy , CNN BusinessLink Copied!Ad FeedbackMillions of Americans may have to wait a little longer to receive their stimulus payments from the federal government due to a glitch in distribution that is expected to be fixed soon.The payments – worth up to $600 per taxpayer and $600 for each of their dependents – were part of the latest signed into law at the end of December.The IRS began issuing direct deposits of those payments on December 29 and says up to 100 million have already been completed.But, according to Intuit TurboTax spokesperson Ashley...…MarketsFeaturedFear & Greed IndexLatestBy , CNN BusinessLink Copied!Ad FeedbackMillions of Americans may have to wait a little longer to receive their stimulus payments from the federal government due to a glitch in distribution that is expected to be fixed soon.The payments – worth up to $600 per taxpayer and $600 for each of their dependents – were part of the latest signed into law at the end of December.The IRS began issuing direct deposits of those payments on December 29 and says up to 100 million have already been completed.But, according to Intuit TurboTax spokesperson Ashley...WW…