The Congressional Budget Office's report indicates that the United States is approaching its statutory debt ceiling, known as the X-date, potentially falling short of funds to cover expenses as early as August without an agreement between lawmakers and the White House. Once the government depletes its "extraordinary measures" — financial tools used to extend available funds — it won't have sufficient buffer to meet all its financial obligations. To avoid defaulting on its debt, Congress and President Donald Trump must reach a consensus to raise the borrowing limit or eliminate the debt ceiling concept altogether. The current debt limit of $36.1 trillion has already been reached, leaving no room for the Treasury to borrow under normal conditions. If the debt limit isn't adjusted, the U.S. is predicted to face a cash shortage by mid-July. Despite Trump's call for including a debt limit provision in legislation to prevent a government shutdown, such a provision didn't materialize in the recent deal. The Treasury has implemented extraordinary measures to delay hitting the debt ceiling, including halting payments to certain accounts like federal worker pension and disability funds. The report by the CBO suggests that if the debt limit isn't revised, the government's ability to borrow using extraordinary measures could be depleted by August or September 2025, although the exact timing is uncertain due to variations in revenue and expenditures compared to projections.