The Debt Ceiling Showdown Hasn't Even Begun Yet

Don't expect Wall Street to get worked up about the debt ceiling until May, but they will in May. Speaker McCarthy has made encouraging noises about his most recent negotiations with President Biden. If things get so dire that Social Security payments stop happening or veterans lose their benefits, that's going to have an immediate negative impact on the whole economy. The worst case scenario of an actual default is unlikely, but it's certainly a possibility.