Debt Limit: 4 Scenarios for What Could Come Next
Written by Black Hot Fire Network on May 9, 2023
President Biden and congressional leaders will meet this afternoon to discuss what, if anything, they will do to prevent a looming economic crisis.
The talks at the White House are about the kind of deal Democrats and Republicans might reach to increase the limit on money the federal government can borrow. The stakes are high: If the debt limit is not increased, the government could default on its debts. The U.S. has borrowed tens of trillions of dollars, so a default could trigger chaos in global financial markets . . .
