Bessant warned of a possible default in the United States in the middle or end of summer

The default of the United States on the national debt may occur as early as summer. This was announced on June 11 by US Treasury Secretary Scott Bessent at a hearing before the House of Representatives Committee.

"When asked when the United States will reach the debt ceiling, Bessent replied that, according to his expectations, it will happen in the middle or end of summer," Bloomberg reports.

According to the official, the estimated default date is a "moving target" that may be inaccurate. He also clarified that the current US administration wants to reduce the deficit ratio to less than 4% by the end of the presidential term of US leader Donald Trump.

A correspondent reported on May 9 that the United States could face default in August due to its government debt if the U.S. Congress does not raise or suspend the debt limit. At the same time, he called on congressional staff to increase or suspend the debt limit by mid-July. Currently, the US national debt is over $36 trillion.