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debt default

A collection of 5 posts

Biden says they didn't compromise on the debt ceiling, just the budget

Recently, a bipartisan budget agreement has been reached, and US President Joe Biden explained the situation, clarifying that the debt ceiling wasn't compromised, only the budget. In a recent briefing, Biden was asked to clarify what had happened since previously; the US President said that the debt ceiling

Biden says the bipartisan budget agreement is good news for 'the American people'

As the "X-date" came closer, US President Joe Biden announced that the government had officially reached a bipartisan budget agreement which would be good news for "the American people." This came just a few days before the supposed X-date. The X-date was reportedly the day when

McCarthy says no agreement yet but felt that the 'discussion was productive'

Per CNN House Speaker Kevin McCarthy has provided an update regarding the debt limit issue. McCarthy clarified that although an agreement hasn't been met, he felt that the "discussion was productive." This update comes as the US is closing in on March 1, the potential default

Goldman Sachs: US could default on its debt on June 8 or 9

Per Business Insider Goldman Sachs recently said that they think the US could ultimately default on its debt on June 8 or 9. This came from a statement coming from the firm's chief political economist. Alec Phillips, the chief political economist of Goldman Sachs, recently went on Bloomberg

US debt default chances this year have more than tripled

Per NYP Analysts at MSCI estimate that the probability of the US heading into debt default has over tripled this 2023. This comes as Congress has struggled to reach a new deal regarding its debt ceiling. On February 24, the probability of a US debt default sat at 11.3%