Congressional leaders will meet with President Joe Biden next week to discuss the federal debt ceiling as they face a looming deadline to avoid a default on U.S. debt obligations.
The Treasury Department has warned that if an agreement isn't reached prior to June 1, there could be severe implications for global markets and the U.S. economy.
The federal debt ceiling has been in place for more than a hundred years. But it's been the subject of consistent conflicts internally between congressional leaders and the White House for more than a decade now.
We discuss debt ceiling and potential solutions to avoid a government default. It's the first installment of our ongoing series with Bloomberg: Life and Debt.
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