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US debt ceiling: How default could affect you

The US government could start to run out of money if Congress fails to raise the debt ceiling by the end of the month. DW looks at the wider impact of a debt default.

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9 May
The US government could start to run out of money if Congress fails to raise the debt ceiling by the end of the month. DW looks at the wider impact of a debt default.
11 May
As a deadline looms on raising the US government's $31.4 trillion debt ceiling, President Joe Biden began talks with congressional leaders at the White House on Tuesday. Republicans are seeking concessions from the Biden administration to lift the borrowing limit, but the White House has said there should be no negotiations. Officials have warned that the US could default on its debt by as soon as June 1.
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US President Joe Biden is meeting with Republican House Speaker Kevin McCarthy this Monday, resuming talks on raising the government's borrowing limit. Washington has until June 1 to reach a deal before the government runs out of money to pay its bills, which would send shockwaves through the US economy and global financial markets.
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US President Joe Biden was optimistic about the US averting a technical default. Republicans have refused to raise the nation's debt limit unless Democrats make concessions on spending plans.
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The US debt ceiling deal still needs to pass in the voting round expected to take place in the House of Representatives.
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