Treasury Secretary Steve Mnuchin said Friday that he is "100% confident" that the government will raise the federal debt ceiling, a day after President Donald Trump publicly criticized the Republican-led Congress via Twitter for not having accomplished it already.
Congress has until the end of September to either raise the debt limit or default. The latter scenario would mean the government, which is spending more money than it takes in, would not be able to borrow the money it needs to pay all its bills.
If the government were to default on its legal obligations, markets and the economy likely would suffer.
Mnuchin said he sees "no scenario" in which the United States would fail to make its payments.
On Twitter, Trump called out Congress on Thursday for not attaching debt-ceiling legislation to a Department of Veterans Affairs bill that passed.
Mnuchin: '100% confident' government will raise debt ceiling
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