The US might default as early as June 1 2023 if Congress does not extend the limit before then, making this week crucial for talks on raising it. The leaders of the House and Senate from both parties will meet with Joe Biden on Tuesday at the White House to discuss the looming economic disaster that they have caused. The US government might reach the national debt ceiling as soon as next month. As a result, the federal treasury won't be able to borrow any more money. It will use up all of the money it has to pay for everything from current debt repayment to government wages and old retiree benefits. The debt ceiling may be raised at any time by a vote in Congress, but the Republicans in power only want to do so if they can persuade Mr. Biden and the Democrats to make political concessions. The president and his supporters have so far refrained from taking part in this debate, which they believe is being compelled by the possibility of a financial collapse. Mr. Biden already...
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