The Washington standoff over raising the United States government’s $31.4 trillion borrowing limit is adding to global economic worries, as a new non-partisan congressional report has cited a “significant risk” of a historic default within the first two weeks of June.The US Congressional Budget Office report, issued Friday morning, confirms Treasury Secretary Janet Yellen’s earlier warnings that a default could come as early as June 1.“There is a significant risk that at some point in the first two weeks of June, the government will no longer be able to pay all of its obligations,” the CBO warned.
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