News Debt limit forecast says US could be in default by summer. Here’s how that could impact you February 15, 2023February 15, 2023 Candy Woodall, USA TODAY Comments Off on Debt limit forecast says US could be in default by summer. Here’s how that could impact you The U.S. could run out of borrowing power this summer, the Congressional Budget Office said of the nation's debt limit. Social Security is at risk.