Associated Press: Debt ceiling explained: Why it's a struggle in Washington and how the impasse could endBy Associated Press / May 24, 2023
WASHINGTON (AP) — White House negotiators were back at the U.S. Capitol on Tuesday for another day of discussions with House Republicans over raising the nation's debt ceiling. Time is short: there are just days left before the government could run out of cash to pay its bills. The two sides are working to reach a budget compromise before June 1, when Treasury Secretary Janet Yellen has said the country could default. The possible outcomes range from bad to apocalyptic, depending on how long the standoff drags on.