
The ongoing debt ceiling drama and its impact on American living standards.
Bank of America's wealth management division believes that lawmakers will eventually reach an agreement to prevent the US from defaulting on its debt, as the debt ceiling has been changed 78 times since 1960 despite political standoffs. The US Treasury has implemented "extraordinary" measures to sidestep an immediate fiscal crisis, but those measures will likely only last for a few more months, and the US could default as soon as this summer if policymakers don't take action.