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Tag: U.S. Default Risk
Breaking News: Treasury Secretary Bessent Asserts U.S. Will Avoid Default Amid Heightened Debt Ceiling Standoff
The specter of a potential U.S. sovereign default has once again emerged on the horizon as Treasury Secretary Scott Bessent unequivocally declared, “We are on the warning track and we will never hit the wall,” in a June 1, 2025, interview on CBS’s Face the Nation (Bessent). His remarks came as congressional negotiations over raising or suspending the statutory debt ceiling intensified, with the Congressional Budget Office projecting that unless lawmakers act, the Treasury Department’s extraordinary measures could be exhausted by August 2025 (CBO 2025). Secretary Bessent’s pledge is aimed at assuaging market anxieties spurred by warnings from financial titans such as JPMorgan Chase CEO Jamie Dimon, who cautioned that fissures in the bond market could materialize if the national debt remains unchecked (Dimon).