Debt Ceiling Dilemma

This chapter explores the intricate negotiations between President Biden and Speaker McCarthy over the U.S. debt ceiling, currently set at $31.4 trillion. With rising concerns of a potential sovereign default, it emphasizes the severe economic implications not just for the U.S. but for the global economy as well. Complicated by deep political divides and the likelihood of temporary fixes, the chapter examines both the challenges and potential alternative solutions to the crisis.