The nonpartisan Congressional Budget Office says the federal government has enough money to keep paying its bills until at least July, and potentially longer. The U.S. hit the statutory debt ceiling in January and has since been taking "extraordinary measures" to meet the country's obligations and avert default. CBO estimates the Treasury will exhaust those measures and run out of cash sometime between July and September. The estimate is different than that of the Treasury Department, which has set a June 5 deadline for Congress to act or risk default.
The Mississippi State Port Authority at Gulfport has entered into a long-term lease and operating agreement with Ports America. A $43 million investment from Ports America will develop the vacant Terminal 4 at the port into a cargo-handling terminal.
Futures are up after stocks closed modestly lower yesterday. The Dow Industrials fell 37, the NASDAQ lost 52 and the S&P 500 was down 6.
