US Debt Ceiling Crisis: Deadlock Continues Amid Warnings of Social Security Shutdown and Calls for Biden to Take Action.

The deadlock between Democrats and Republicans over raising the US debt ceiling has gone on for months, and if an agreement is not reached by as soon as 1 June, the United States could default on its bond payments and other obligations, with potentially catastrophic implications for the economy. Some scholars argue that Biden should invoke the 14th amendment to order the Treasury department to continue paying its bills, even if the ceiling isn’t increased, but Treasury Secretary Janet Yellen has shot down the idea. Joe Biden and his Democratic allies continue to refuse to negotiate over an increase, while the GOP wants the White House to agree to cut spending and implement conservative reforms.