The United States is now just two weeks away from possibily defaulting on its debt. On June first, if the White House and Congress cannot agree to raise the federal debt ceiling, Washington will run out of money. It would be the first time in US history that Uncle Sam writes checks that bounce. Democrats and Republicans have engaged in similiar chicken fights over the debt ceiling before. But the option of default was never one anyone — on either sidde of the political aisle — took seriously. Apparently, the commitment to country over party is not what it used to be. US President Biden and Congressional leaders are still in last minute negotiations. And they’ll continue at high level while he travels to the G7 summit in Japan. Top of the agenda there: To default or not? Here is what Biden told reporters today before departing on Air Force One.
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