AsianFin -- The U.S. government could run out of money to pay its bills as soon as August 15 unless Congress raises the debt ceiling, according to a new projection from the Bipartisan Policy Center released Wednesday.

The nonpartisan think tank estimates the so-called “X-date” — the point at which the Treasury can no longer meet its obligations — will likely occur between August 15 and October 3, offering one of the most precise timelines yet for when the U.S. risks defaulting on its debt.