Boyle Statement on CBO Report Projecting 'X-Date' for Debt Ceiling Breach
WASHINGTON, DC – Today, Congressman Brendan F. Boyle (PA-02), Ranking Member of the House Budget Committee, issued the following statement in response to a new Congressional Budget Office (CBO) report projecting that the United States will reach the “X-date” — the point at which the Treasury exhausts extraordinary measures and breaches the debt ceiling — sometime between August and September:
"This CBO report makes one thing unmistakably clear: the debt ceiling needs to be raised as soon as possible, or economic catastrophe will strike. But instead of offering a serious solution and working with Democrats, Republicans are pushing a reckless, partisan proposal — one that raises the debt ceiling not to protect our economy, but to make room for massive tax breaks for billionaires. Their plan would explode the deficit and is partially paid for by the largest cuts to Medicaid in American history.
Let me be absolutely clear: the need to raise the debt ceiling must not be used as a pretext to deliver giveaways to billionaires or to undermine the essential programs on which working families rely. Democrats are ready to work across the aisle to prevent a catastrophic default. But Republicans must work with us to protect Social Security, Medicare, and Medicaid.
At a time when Republicans — and Elon Musk — are openly threatening these bedrock programs, it’s more important than ever for Democrats to stand united in their defense.
And let’s not forget: under Presidents Biden and Obama, Republicans repeatedly held the debt ceiling hostage to force extreme cuts to critical programs. Now, with Donald Trump back in the driver’s seat, they’re racing to raise it — not to protect the economy but to jam through a $4.6 trillion tax giveaway for billionaires and billion-dollar corporations. The hypocrisy is staggering.
It’s time to end the cycle of manufactured crises and political brinkmanship. That’s why I’m working on reforms to ensure the full faith and credit of the United States is never again jeopardized."
Budget Committee Democrats recently released a debt ceiling explainer, which is available here. You can also download a PDF version here.
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