Here’s a look at what markets are expecting and planning for, and how a default might happen.
Category: National Debt (US)
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Military Spending Emerges as Big Dispute in Debt-Limit Talks
President Biden has offered to freeze discretionary spending, including for defense. Republicans want to spend more for the military, and cut more elsewhere.
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Republicans Report Progress in Debt Limit Talks as Negotiations Continue
Negotiators reconvened on Thursday after working through the night to strike a deal, as hard-right Republicans and some Democrats expressed concerns about the shape of an emerging compromise.
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Fed Officials Were Split Over June Rate Pause, Minutes Show
In the Federal Reserve’s last meeting, “several” participants thought rates may have moved high enough to get inflation under control.
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McCarthy Renews Call for Spending Cuts as Debt Talks Resume at White House
With a potential default just over a week away, the House speaker is maintaining pressure for a rollback in spending in exchange for raising the borrowing limit.
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Yellen Warns of Missed Payments if Debt Limit Is Not Lifted
The Treasury secretary said the Biden administration would face “very tough choices” if Congress did not act.
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U.S. Faces ‘Elevated Risk’ of Default in Early June, a New Report Warns
The Bipartisan Policy Center said the government will be operating on “dangerously low” cash reserves after Memorial Day in its estimate of the so-called X-date.
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U.S. Faces ‘Elevated Risk’ of Default in Early June, a New Report Warns
The Bipartisan Policy Center said the government will be operating on “dangerously low” cash reserves after Memorial Day in its estimate of the so-called X-date.
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Biden and McCarthy Describe ‘Productive’ Debt Limit Talks, but No Deal Is Reached
With the United States at risk of defaulting for the first time, Speaker Kevin McCarthy and President Biden met again but remained far apart on a deal.
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Yellen Warns the U.S. Could Default as Soon as June 1
The so-called X-date could still come as early as next week.