Statement of James L. Blum Deputy Director Congressional Budget Office
Debt Subject to Limit
before the Committee on Finance United States Senate
July 28, 1995
NOTICE
This statement is not available for public release until it is delivered at 9:30 a.m. (EDT), Friday, July 28, 1995. |
Mr. Chairman, I am pleased to appear before this Committee to discuss the federal debt limit. In my statement today, I will give some background information on the debt limit, including its relation to the deficit and its impact on financial markets. I will also discuss the Congressional Budget Office's (CBO's) projections of when we will reach the current debt ceiling; describe the pertinent dates regarding federal borrowing, cash inflows, and cash outlays that debt watchers should be concerned with; and outline potential Treasury action to cope with a borrowing crisis.
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