US debt ceiling: “Congress and White House careen toward default deadline” | Forexlive

OK, to begin, a US debt default is not imminent.

And, to me, seems unthinkable. But, I have been wrong on things before 😉

The latest from CNN on the debt ceiling standoff in the US:

An upbeat Kevin McCarthy left the White House seven weeks ago with a rosy view about the prospects of raising the national debt limit.

“We walked away saying we would continue the discussion,” the House speaker said after an hourlong meeting with President Joe Biden.

The discussion, in fact, has yet to continue.

And as each day goes by, lawmakers are growing more uneasy about raising the $31.38 trillion borrowing limit, fearing that they’ll struggle as they scramble at the eleventh hour to find a deal – and enough votes – in a divided Congress.

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Just a heads up that this issue has not gone away and it’ll look worse before it (hopefully) looks better.

Link to the CNN report is here for more.