Navigating the Murky Waters of the US Debt Ceiling Crisis.

The path to raising the debt limit in Congress is uncertain, with three potential paths being discussed. The first path involves negotiations between President Biden and House Speaker Kevin McCarthy, but any deal would require stripping out a repeal of Biden's agenda. The second path involves passing a clean debt ceiling increase, which has been demanded by Democrats but is unlikely to be supported by Republicans. The third path involves tying the debt limit to a bipartisan government funding bill, but this would require opening up budget negotiations that Republicans may not see as a victory. The Treasury Department's deadline to act or risk an economic calamity is June 5, although the date is likely to be adjusted.